JPMorgan Chase & Co. Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its target price lowered by JPMorgan Chase & Co. from $21.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Truist Financial decreased their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley increased their target price on DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Piper Sandler decreased their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Trading Down 2.0 %

DV opened at $19.33 on Thursday. The stock’s 50-day moving average price is $17.53 and its 200 day moving average price is $19.44. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.73 and a beta of 0.90.

DoubleVerify declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,339,023.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 7,056 shares of company stock worth $119,634. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently bought and sold shares of the business. United Services Automobile Association increased its stake in DoubleVerify by 7.4% in the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after purchasing an additional 746 shares during the period. Whittier Trust Co. purchased a new stake in DoubleVerify during the 1st quarter valued at approximately $28,000. Arizona State Retirement System lifted its position in DoubleVerify by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after acquiring an additional 927 shares during the period. Gagnon Securities LLC increased its holdings in shares of DoubleVerify by 1.2% in the first quarter. Gagnon Securities LLC now owns 86,018 shares of the company’s stock valued at $3,024,000 after purchasing an additional 1,045 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of DoubleVerify by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after purchasing an additional 1,218 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.