Canaccord Genuity Group Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its price target lowered by Canaccord Genuity Group from $36.00 to $30.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on DV. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. The Goldman Sachs Group cut their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley raised their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Macquarie cut their price target on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Down 2.0 %

DV stock opened at $19.33 on Thursday. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The company 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. The company has a 50 day moving average of $17.53 and a two-hundred day moving average of $19.44.

DoubleVerify announced that its board has initiated a stock repurchase program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 7,056 shares of company stock worth $119,634 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in shares of DoubleVerify during the 1st quarter valued at about $28,000. CWM LLC boosted its position in shares of DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of DoubleVerify during the 3rd quarter valued at about $49,000. Fifth Third Bancorp boosted its position in shares of DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after acquiring an additional 1,742 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after acquiring an additional 1,325 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.