DoubleVerify’s (DV) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of DoubleVerify (NYSE:DV) in a report released on Friday morning, Marketbeat reports. They currently have a $20.00 price target on the stock, down from their previous price target of $24.00.

Several other research analysts also recently weighed in on the stock. Barclays dropped their target price on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank started coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a research report on Wednesday, December 11th. Morgan Stanley dropped their target price on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average price target of $23.37.

DoubleVerify Price Performance

Shares of DV opened at $13.90 on Friday. The firm’s 50 day moving average is $20.54 and its 200-day moving average is $19.29. The stock has a market capitalization of $2.35 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.63 and a beta of 0.99. DoubleVerify has a 12-month low of $13.42 and a 12-month high of $35.57.

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

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of DoubleVerify

A number of institutional investors and hedge funds have recently modified their holdings of DV. Burgundy Asset Management Ltd. lifted its stake in shares of DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after buying an additional 2,073,279 shares during the last quarter. Norges Bank acquired a new position in DoubleVerify during the 4th quarter valued at $33,957,000. BNP Paribas Financial Markets acquired a new position in DoubleVerify during the 4th quarter valued at $31,579,000. Alta Fox Capital Management LLC acquired a new position in DoubleVerify during the 4th quarter valued at $24,267,000. Finally, Disciplined Growth Investors Inc. MN acquired a new position in DoubleVerify during the 3rd quarter valued at $19,457,000. 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.