Truist Financial Issues Pessimistic Forecast for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its target price cut by Truist Financial from $26.00 to $23.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 17.89% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JMP Securities dropped their target price on DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays dropped their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Piper Sandler dropped their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

DoubleVerify Stock Down 0.2 %

NYSE:DV traded down $0.04 during midday trading on Thursday, hitting $19.51. The stock had a trading volume of 181,500 shares, compared to its average volume of 2,346,356. DoubleVerify has a one year low of $16.11 and a one year high of $43.00. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 52.89, a PEG ratio of 2.44 and a beta of 0.90. The stock has a 50-day moving average of $17.54 and a 200 day moving average of $19.59.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data 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. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company had revenue of $169.56 million for the quarter, compared to analysts’ expectations of $168.93 million. On average, sell-side analysts anticipate that DoubleVerify will post 0.3 earnings per share for the current fiscal year.

DoubleVerify declared that its board has initiated a stock buyback plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the sale, the chief financial officer now owns 81,598 shares in the company, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 7,056 shares of company stock worth $119,634 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

A number of large investors have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in DoubleVerify in the 1st quarter worth approximately $28,000. CWM LLC boosted its position in DoubleVerify by 212.5% in the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in DoubleVerify in the 3rd quarter worth approximately $49,000. Fifth Third Bancorp boosted its position in DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares in the last quarter. Finally, KBC Group NV boosted its position in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares in the last quarter. 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.