DoubleVerify (NYSE:DV) Trading 4.3% Higher – What’s Next?

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price rose 4.3% during trading on Wednesday . The stock traded as high as $20.17 and last traded at $20.04. Approximately 676,437 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,237,505 shares. The stock had previously closed at $19.22.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Scotiabank began coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Raymond James started coverage on shares of DoubleVerify in a report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Macquarie reiterated an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.21.

DoubleVerify Trading Up 3.9 %

The firm’s 50-day moving average price is $19.69 and its 200-day moving average price is $19.00. The stock has a market capitalization of $3.38 billion, a PE ratio of 53.97, a PEG ratio of 3.29 and a beta of 0.98.

DoubleVerify announced that its board has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at DoubleVerify

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

Institutional Investors Weigh In On DoubleVerify

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in shares of DoubleVerify during the third quarter worth $29,000. GAMMA Investing LLC boosted its position in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares during the period. Capital Performance Advisors LLP bought a new position in DoubleVerify in the 3rd quarter worth about $49,000. KBC Group NV increased its position 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 acquiring an additional 1,325 shares during the period. Finally, Covestor Ltd raised its stake in shares of DoubleVerify by 22.8% during the third 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. 97.29% of the stock is owned by institutional investors.

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.