JMP Securities Lowers DoubleVerify (NYSE:DV) Price Target to $25.00

DoubleVerify (NYSE:DV) had its price objective reduced by equities research analysts at JMP Securities from $33.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 29.33% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus cut their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley upped their price objective on DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a report on Tuesday, September 17th. Macquarie cut their price target on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Finally, BMO Capital Markets decreased their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Stock Performance

DoubleVerify stock opened at $19.33 on Thursday. The firm has a 50 day moving average price of $17.53 and a 200 day moving average price of $19.52. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The company has a market capitalization of $3.29 billion, a PE ratio of 55.26, a price-to-earnings-growth ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The business had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. As a group, equities research analysts forecast that DoubleVerify will post 0.3 earnings per share for the current year.

DoubleVerify announced that its Board of Directors has authorized a share buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 7,056 shares of company stock worth $119,634 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several hedge funds have recently made changes to their positions in DV. Vanguard Group Inc. boosted 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 valued at $552,974,000 after purchasing an additional 216,370 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in DoubleVerify by 9.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after buying an additional 360,445 shares in the last quarter. Van Berkom & Associates Inc. grew its position in DoubleVerify by 25.9% during 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 period. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify during the 2nd quarter valued at approximately $54,099,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify during the 2nd quarter worth approximately $53,015,000. Institutional investors and hedge funds 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.