DoubleVerify (NYSE:DV) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

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

Other equities analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Macquarie lowered their target price on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Morgan Stanley boosted their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus dropped their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Canaccord Genuity Group decreased their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Down 1.9 %

Shares of NYSE:DV traded down $0.38 during trading on Thursday, hitting $19.34. 5,072,400 shares of the company traded hands, compared to its average volume of 2,382,317. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 2.44 and a beta of 0.90. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The business’s fifty day moving average is $17.54 and its 200-day moving average is $19.59.

DoubleVerify (NYSE:DV) last issued its earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The firm had revenue of $169.56 million for the quarter, compared to analyst estimates of $168.93 million. On average, analysts forecast that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 7,056 shares of company stock valued at $119,634. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DV. Vanguard Group Inc. lifted its holdings in DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after purchasing an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares during the period. Van Berkom & Associates Inc. lifted its stake in shares of DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after buying an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify during the 2nd quarter worth $54,099,000. Finally, Mackenzie Financial Corp acquired a new position in DoubleVerify in the 2nd quarter valued at $53,015,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Company Profile

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.