DoubleVerify Plans $150M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
DoubleVerify (DV) has announced a $150 million share repurchase program, which will be funded from existing cash and future cash flows. As of March 31, 2024, DV had $302 million in cash and cash equivalents and 172 million shares outstanding as of April 29, 2024.
May 16, 2024 | 8:18 pm
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DoubleVerify (DV) has announced a $150 million share repurchase program, which is expected to be funded from existing cash and future cash flows. This move is likely to positively impact the stock price in the short term as it indicates confidence in the company's financial health and can reduce the number of shares outstanding.
Share repurchase programs generally indicate that a company believes its stock is undervalued and is confident in its financial stability. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share (EPS).
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