DoubleVerify (NYSE:DV) Price Target Lowered to $21.00 at Morgan Stanley

DoubleVerify (NYSE:DV) had its price objective decreased by stock analysts at Morgan Stanley from $23.00 to $21.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 6.38% from the stock’s previous close.

Several other research analysts also recently commented on DV. The Goldman Sachs Group reduced their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets cut their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. 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 report on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research report on Tuesday, September 17th. Finally, Barclays cut their price objective on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Performance

DV stock traded up $0.19 during trading on Thursday, hitting $19.74. 4,430,298 shares of the company’s stock traded hands, compared to its average volume of 2,364,350. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The business has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $19.59. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 56.66, a P/E/G ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last released its earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $169.56 million during the quarter, compared to analyst estimates of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. Research analysts forecast that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

DoubleVerify declared that its board has approved a share buyback plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 7,056 shares of company stock valued at $119,634 over the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several hedge funds have recently made changes to their positions in DV. Whittier Trust Co. purchased a new stake in shares of DoubleVerify during the first quarter worth approximately $28,000. CWM LLC increased its stake in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after buying an additional 1,900 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of DoubleVerify during the third quarter worth approximately $49,000. Fifth Third Bancorp increased its stake in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after buying an additional 1,742 shares during the period. Finally, KBC Group NV increased its stake in shares of DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 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.