The Goldman Sachs Group Lowers DoubleVerify (NYSE:DV) Price Target to $15.50

DoubleVerify (NYSE:DV) had its target price lowered by investment analysts at The Goldman Sachs Group from $20.00 to $15.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 26.89% from the stock’s previous close.

Several other equities analysts also recently commented on DV. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research note on Monday, January 27th. Stifel Nicolaus set a $20.00 price target on DoubleVerify in a report on Friday, February 28th. Morgan Stanley decreased their price objective on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Bank of America raised DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. Finally, Cannonball Research cut shares of DoubleVerify to a “neutral” rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.78.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $12.22 on Monday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The business has a 50-day moving average of $16.30 and a 200 day moving average of $18.19. DoubleVerify has a 12 month low of $11.52 and a 12 month high of $31.15.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its stake in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after buying an additional 2,073,279 shares during the period. Norges Bank acquired a new position in shares of DoubleVerify during the fourth quarter worth about $33,957,000. BNP Paribas Financial Markets purchased a new position in DoubleVerify during the fourth quarter worth about $31,579,000. Alta Fox Capital Management LLC acquired a new stake in DoubleVerify in the fourth quarter valued at about $24,267,000. Finally, Mackenzie Financial Corp lifted its position in 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. Hedge funds and other institutional investors own 97.29% 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.