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

Loop Capital lowered shares of DoubleVerify (NYSE:DV) from a buy rating to a hold rating in a report published on Tuesday, Marketbeat reports. Loop Capital currently has $16.00 target price on the stock, down from their previous target price of $24.00.

Several other equities analysts also recently weighed in on DV. The Goldman Sachs Group reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of DoubleVerify in a research report on Friday, February 28th. Royal Bank of Canada boosted 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. Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Morgan Stanley cut their price target on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Bank of America raised shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

DoubleVerify Price Performance

Shares of NYSE DV opened at $14.25 on Tuesday. DoubleVerify has a 1-year low of $13.42 and a 1-year high of $35.57. The business’s 50 day moving average is $20.34 and its two-hundred day moving average is $19.24. The stock has a market capitalization of $2.41 billion, a P/E ratio of 38.50, a PEG ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its board has approved a share 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 often a sign that the company’s board believes its stock is undervalued.

Insider Activity

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

Institutional Trading of DoubleVerify

Hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of DoubleVerify during the 3rd quarter worth approximately $794,000. GSA Capital Partners LLP grew its holdings in DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after purchasing an additional 53,326 shares during the last quarter. Repertoire Partners LP increased its position in shares of DoubleVerify by 1,041.7% during the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after purchasing an additional 625,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DoubleVerify by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after purchasing an additional 10,696 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its position in shares of DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after purchasing an additional 69,780 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.