DoubleVerify (NYSE:DV) Now Covered by Analysts at Scotiabank

Analysts at Scotiabank started coverage on shares of DoubleVerify (NYSE:DV) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “sector outperform” rating and a $24.00 price target on the stock. Scotiabank’s target price suggests a potential upside of 16.14% from the stock’s previous close.

A number of other analysts also recently issued reports on DV. Barclays decreased their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. lowered their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus reduced their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Piper Sandler cut their price target on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Macquarie reiterated an “outperform” rating and set a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

DoubleVerify Trading Up 0.5 %

Shares of NYSE:DV opened at $20.67 on Thursday. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The company’s 50 day moving average is $18.41 and its two-hundred day moving average is $18.80. The company has a market cap of $3.50 billion, a PE ratio of 55.85, a P/E/G ratio of 3.25 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at $1,656,439.40. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 8,820 shares of company stock worth $155,444. Company insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several large investors have recently modified their holdings of DV. United Services Automobile Association lifted its holdings in shares of DoubleVerify by 7.4% in the 2nd quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after purchasing an additional 746 shares during the last quarter. Arizona State Retirement System lifted its position in DoubleVerify by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after buying an additional 927 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after buying an additional 1,218 shares during the period. Covestor Ltd grew its holdings in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of DoubleVerify by 0.3% in the third quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock worth $6,185,000 after acquiring an additional 1,279 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.