DoubleVerify Holdings, Inc. (NYSE:DV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) have received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.21.

Several equities analysts have issued reports on DV shares. The Goldman Sachs Group cut their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Wells Fargo & Company started coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price for the company. Canaccord Genuity Group reduced their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered their price objective on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th.

DoubleVerify Trading Up 1.8 %

Shares of NYSE DV opened at $19.61 on Wednesday. The stock has a market capitalization of $3.32 billion, a PE ratio of 53.00, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00. The stock’s fifty day simple moving average is $19.61 and its two-hundred day simple moving average is $19.00.

DoubleVerify announced that its board has approved a stock repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were 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 directly owns 81,598 shares in the company, valued at $1,656,439.40. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 5,599 shares of company stock valued at $107,233. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DV. United Services Automobile Association grew its holdings in DoubleVerify by 7.4% in the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after purchasing an additional 746 shares during the period. GAMMA Investing LLC increased its holdings in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares in the last quarter. Arizona State Retirement System raised its position in DoubleVerify by 2.3% during the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after acquiring an additional 927 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in DoubleVerify by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.