JMP Securities Reiterates Market Outperform Rating for DoubleVerify (NYSE:DV)

DoubleVerify (NYSE:DV)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research report issued on Friday,Benzinga reports. They presently have a $25.00 price objective on the stock. JMP Securities’ price objective points to a potential upside of 28.40% from the stock’s previous close.

A number of other equities analysts have also commented on DV. JPMorgan Chase & Co. decreased their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets decreased their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Canaccord Genuity Group reduced their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus lowered their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley reduced their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.21.

DoubleVerify Stock Performance

DV traded down $0.49 during trading on Friday, reaching $19.47. The company had a trading volume of 121,984 shares, compared to its average volume of 1,699,279. 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 52.62, a PEG ratio of 3.29 and a beta of 0.98. The firm’s 50-day simple moving average is $19.81 and its 200 day simple moving average is $19.01.

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

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,599 shares of company stock valued at $107,233 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of DoubleVerify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. bought a new position in DoubleVerify during the second quarter valued at about $54,099,000. Mackenzie Financial Corp acquired a new stake in shares of DoubleVerify during the 2nd quarter worth approximately $53,015,000. Disciplined Growth Investors Inc. MN bought a new stake in shares of DoubleVerify during the third quarter valued at approximately $19,457,000. Dimensional Fund Advisors LP raised its stake in shares of DoubleVerify by 36.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock valued at $47,154,000 after purchasing an additional 643,679 shares in the last quarter. Finally, Repertoire Partners LP lifted its position in DoubleVerify by 1,041.7% in the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after purchasing an additional 625,000 shares during the period. 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.