DoubleVerify (NYSE:DV) Price Target Lowered to $21.00 at Morgan Stanley

DoubleVerify (NYSE:DV) had its target price decreased by Morgan Stanley from $23.00 to $21.00 in a report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

DV has been the topic of several other reports. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock. Canaccord Genuity Group cut their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group decreased their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Truist Financial dropped their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Barclays reduced their price objective on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Trading Down 2.0 %

NYSE DV traded down $0.39 during trading on Thursday, reaching $19.33. 5,072,400 shares of the company’s stock were exchanged, compared to its average volume of 2,382,317. DoubleVerify has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The company’s fifty day simple moving average is $17.54 and its 200-day simple moving average is $19.59. The firm has a market capitalization of $3.29 billion, a PE ratio of 56.33, a P/E/G ratio of 2.44 and a beta of 0.90.

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

DoubleVerify declared that its Board of Directors has initiated a stock buyback program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 7,056 shares of company stock valued at $119,634 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new stake in shares of DoubleVerify in the 2nd quarter valued at $73,268,000. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify during the second quarter worth $54,099,000. Mackenzie Financial Corp bought a new stake in DoubleVerify in the 2nd quarter valued at $53,015,000. Jericho Capital Asset Management L.P. acquired a new position in DoubleVerify in the 1st quarter worth $53,584,000. Finally, Capital International Investors increased 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 purchasing an additional 859,922 shares in the last quarter. Institutional investors and hedge funds 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.