Canaccord Genuity Group Cuts DoubleVerify (NYSE:DV) Price Target to $24.00

DoubleVerify (NYSE:DV) had its target price decreased by Canaccord Genuity Group from $26.00 to $24.00 in a research note issued to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts have also commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of DoubleVerify in a research report on Wednesday. Loop Capital cut DoubleVerify from a “buy” rating to a “hold” rating and cut their price target for the company from $24.00 to $16.00 in a report on Tuesday, March 4th. Barclays reduced their price objective on DoubleVerify from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Bank of America upgraded DoubleVerify from an “underperform” rating to a “neutral” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus set a $20.00 target price on DoubleVerify in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify has a consensus rating of “Hold” and a consensus target price of $21.38.

DoubleVerify Stock Up 3.3 %

Shares of DV stock opened at $12.47 on Thursday. The stock has a 50 day moving average of $15.72 and a 200-day moving average of $18.09. The firm has a market cap of $2.03 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. DoubleVerify has a 12 month low of $11.52 and a 12 month high of $31.15.

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 value of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DV. Vanguard Group Inc. boosted its stake in DoubleVerify by 0.8% in the fourth 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 during the last quarter. Mackenzie Financial Corp lifted its stake in shares of DoubleVerify by 20.1% in the 4th 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. boosted its position in shares of DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after purchasing an additional 2,073,279 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of DoubleVerify by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock worth $50,002,000 after purchasing an additional 592,435 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in DoubleVerify by 0.8% in the fourth quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after purchasing an additional 19,684 shares during the last quarter. 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.