DoubleVerify (NYSE:DV) Downgraded to “Hold” Rating by Loop Capital

DoubleVerify (NYSE:DV) was downgraded by equities researchers at Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $16.00 target price on the stock, down from their prior target price of $24.00. Loop Capital’s target price would indicate a potential upside of 7.38% from the company’s current price.

Several other brokerages also recently commented on DV. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. Macquarie reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Truist Financial decreased their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus set a $20.00 price target on shares of DoubleVerify in a report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

DoubleVerify Stock Performance

NYSE DV opened at $14.90 on Tuesday. DoubleVerify has a 1 year low of $13.42 and a 1 year high of $35.57. The business’s fifty day moving average is $20.45 and its two-hundred day moving average is $19.28. The stock has a market capitalization of $2.52 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of DoubleVerify

Several large investors have recently made changes to their positions in DV. Vanguard Group Inc. raised its stake in shares of DoubleVerify by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock valued at $335,816,000 after acquiring an additional 143,773 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of DoubleVerify by 20.1% in the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after purchasing an additional 948,529 shares during the period. Burgundy Asset Management Ltd. lifted its stake in shares of DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after buying an additional 2,073,279 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of DoubleVerify by 29.5% in the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock worth $50,002,000 after buying an additional 592,435 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in shares of DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock worth $49,450,000 after buying an additional 19,684 shares during the period. 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.