DoubleVerify (NYSE:DV) Board Authorizes Stock Buyback Program

DoubleVerify (NYSE:DV) announced that its board has approved a share repurchase program on Wednesday, November 6th, RTT News reports. The company plans to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on DV. Morgan Stanley lifted their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Truist Financial decreased their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets decreased their price target on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Piper Sandler decreased their price target on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and an average price target of $27.47.

DoubleVerify Stock Performance

Shares of DV opened at $19.56 on Thursday. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The firm has a market cap of $3.33 billion, a P/E ratio of 55.87, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90. The firm’s 50-day simple moving average is $17.53 and its 200 day simple moving average is $19.59.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,410,013.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 7,056 shares of company stock worth $119,634. Insiders own 3.00% of the company’s stock.

About DoubleVerify

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.