Analyst Laura Martin of Needham maintained a Buy rating on DoubleVerify Holdings (DV – Research Report), retaining the price target of $22.00.
Laura Martin’s rating is based on several strategic insights regarding DoubleVerify Holdings’ positioning in the digital advertising landscape. Despite a decline in share value due to underwhelming fourth-quarter results and guidance, Martin sees potential in the company’s strategic pivot. DoubleVerify is focusing on shifting ad spending from the Open Web to more controlled environments like social media platforms, which are becoming increasingly popular for online video content.
Furthermore, DoubleVerify’s introduction of new Activation products on major platforms like Meta and TikTok, priced significantly higher than their existing measurement products, presents a promising revenue opportunity. While the penetration of these products might not reach the levels seen on non-social platforms, the vast spending potential in the social media category could significantly boost the company’s financial performance in the coming fiscal year.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $26.00 price target.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DV in relation to earlier this year.