DoubleVerify (NYSE:DV) Rating Increased to Neutral at Bank of America

Bank of America upgraded shares of DoubleVerify (NYSE:DV) from an underperform rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat.com reports.

Several other analysts also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Raymond James began coverage on shares of DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price objective on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of DoubleVerify in a research report on Friday. Canaccord Genuity Group cut their price objective on shares of DoubleVerify from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Barclays cut their price objective 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. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.37.

DoubleVerify Price Performance

NYSE:DV opened at $13.90 on Friday. The firm’s 50-day moving average price is $20.54 and its 200-day moving average price is $19.29. The company has a market capitalization of $2.35 billion, a PE ratio of 37.57, a P/E/G ratio of 2.63 and a beta of 0.99. DoubleVerify has a 1-year low of $13.42 and a 1-year high of $35.57.

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

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,855,910.02. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after acquiring an additional 981 shares during the period. True Wealth Design LLC bought a new stake in DoubleVerify during the 3rd quarter worth approximately $29,000. Quadrant Capital Group LLC raised its stake in DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after acquiring an additional 1,285 shares during the period. GAMMA Investing LLC raised its stake in DoubleVerify by 73.6% during 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 during the period. Finally, Allianz SE bought a new stake in DoubleVerify during the 4th quarter worth approximately $41,000. 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.