JPMorgan Chase & Co. Cuts DoubleVerify (NYSE:DV) Price Target to $19.00

DoubleVerify (NYSE:DV) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 5.71% from the company’s previous close.

DV has been the subject of a number of other research reports. JMP Securities reduced their target price on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a report on Thursday. Canaccord Genuity Group decreased their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial dropped their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets decreased their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley boosted their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.53.

DoubleVerify Price Performance

Shares of NYSE DV traded up $0.60 during mid-day trading on Thursday, reaching $20.15. 3,570,966 shares of the company traded hands, compared to its average volume of 2,362,048. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The firm has a market cap of $3.43 billion, a PE ratio of 57.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.90. The stock has a fifty day simple moving average of $17.54 and a 200-day simple moving average of $19.59.

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

DoubleVerify announced that its board has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction 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 directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 7,056 shares of company stock valued at $119,634. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in DoubleVerify in the second quarter valued at about $73,268,000. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify during the second quarter worth approximately $54,099,000. Mackenzie Financial Corp acquired a new position in DoubleVerify in the second quarter valued at approximately $53,015,000. Jericho Capital Asset Management L.P. bought a new position in DoubleVerify in the first quarter valued at approximately $53,584,000. Finally, Capital International Investors grew its holdings in DoubleVerify by 104.7% during the 1st quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock worth $59,117,000 after acquiring an additional 859,922 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.