Stock Buyback Program Announced by DoubleVerify (NYSE:DV) Board

DoubleVerify (NYSE:DV) declared that its board has authorized a share repurchase program on Wednesday, November 6th, RTT News reports. The company plans to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Macquarie decreased their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Morgan Stanley boosted their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Truist Financial dropped their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Finally, Stifel Nicolaus cut their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.47.

DoubleVerify Trading Up 6.5 %

Shares of DV stock traded up $1.18 on Wednesday, hitting $19.56. 3,748,116 shares of the stock were exchanged, compared to its average volume of 2,356,414. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The firm’s 50 day moving average is $17.53 and its two-hundred day moving average is $19.59. The firm has a market capitalization of $3.33 billion, a PE ratio of 54.29, a P/E/G ratio of 2.40 and a beta of 0.90.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total value of $28,947.24. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,339,023.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 7,056 shares of company stock worth $119,634 over the last quarter. 3.00% of the stock is currently owned by company insiders.

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.