JMP Securities analyst Andrew Boone lowered the firm’s price target on DoubleVerify (DV) to $43 from $45 and keeps an Outperform rating on the shares. DoubleVerify’s Q2 results were solid, and the company announced the acquisition of Scibids Technology, an AI-powered digital campaign optimization tool, for $125M, the analyst tells investors in a research note. DoubleVerify is accelerating and emphasizing its performance products with the acquisition of Scibids, the firm says, adding that it is operating well in a volatile ad market, while brand safety in the Facebook (META) feed remains a significant catalyst for 2024.
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Read More on DV:
- DoubleVerify sees 2023 revenue $557M-$569M, consensus $563.54M
- DoubleVerify sees Q3 revenue $135M-$141M, consensus $138.33M
- DoubleVerify reports Q2 EPS 7c, consensus 6c
- DoubleVerify Holdings options imply 6.8% move in share price post-earnings
- DoubleVerify price target raised to $45 from $34 at KeyBanc
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