Royal Bank of Canada Has Lowered Expectations for DoubleVerify (NYSE:DV) Stock Price

DoubleVerify (NYSE:DV) had its target price lowered by investment analysts at Royal Bank of Canada from $24.00 to $21.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 56.37% from the company’s current price.

DV has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on DoubleVerify from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus lowered their price objective on shares of DoubleVerify from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Loop Capital cut shares of DoubleVerify from a “buy” rating to a “hold” rating and reduced their target price for the stock from $24.00 to $16.00 in a report on Tuesday, March 4th. Cannonball Research lowered shares of DoubleVerify to a “neutral” rating in a research note on Sunday, March 2nd. Finally, Morgan Stanley reduced their price objective on shares of DoubleVerify from $18.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. One 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 stock. According to MarketBeat, DoubleVerify presently has an average rating of “Hold” and an average target price of $20.68.

DoubleVerify Trading Up 1.4 %

DV stock opened at $13.43 on Friday. The stock has a market cap of $2.18 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The stock has a 50-day moving average price of $13.83 and a two-hundred day moving average price of $17.82. DoubleVerify has a 1 year low of $11.52 and a 1 year high of $31.11.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently made changes to their positions in DV. Victory Capital Management Inc. increased its stake in DoubleVerify by 28.9% during the 1st quarter. Victory Capital Management Inc. now owns 267,105 shares of the company’s stock worth $3,571,000 after acquiring an additional 59,902 shares during the period. Signaturefd LLC grew its holdings in shares of DoubleVerify by 582.9% during the 1st quarter. Signaturefd LLC now owns 2,322 shares of the company’s stock worth $31,000 after purchasing an additional 1,982 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of DoubleVerify by 11.8% in the first quarter. Edgestream Partners L.P. now owns 146,222 shares of the company’s stock worth $1,955,000 after purchasing an additional 15,407 shares during the period. New York State Common Retirement Fund raised its stake in DoubleVerify by 38.0% in the first quarter. New York State Common Retirement Fund now owns 699,119 shares of the company’s stock valued at $9,347,000 after purchasing an additional 192,692 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its position in DoubleVerify by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 57,004 shares of the company’s stock worth $762,000 after purchasing an additional 30,030 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.