DoubleVerify price target lowered to $25 from $33 at JMP Securities

JMP Securities lowered the firm’s price target on DoubleVerify (DV) to $25 from $33 and keeps an Outperform rating on the shares following “mixed earnings,” as Q3 revenue came in slightly above consensus while Q4 revenue guidance came in 4% below consensus. DoubleVerify’s industry is consolidating to “a true duopoly” while shares have near-term support as Integral Ad Science (IAS) is reportedly being considered as a takeout candidate, which should create a floor for valuation, the analyst tells investors.