DoubleVerify price target lowered to $40 from $45 at Piper Sandler

Piper Sandler analyst Matt Farrell lowered the firm’s price target on DoubleVerify to $40 from $45 and keeps an Overweight rating on the shares following the Innovation Day event. The Scibids acquisition provides DoubleVerify with AI-powered digital campaign optimization tools, and the firm walked away from the event with a better understanding of the company’s AI initiatives, the impact Scibids will have on DoubleVerify, and the longer-term opportunity on a go-forward basis, the analyst tells investors in a research note.