DoubleVerify price target raised to $45 from $35 at Needham

Needham analyst Laura Martin raised the firm’s price target on DoubleVerify (DV) to $45 from $35 and keeps a Buy rating on the shares after attending an investor call with its CEO Mark Zagorski. Meta Platforms (META) accounts for half of the company’s total social revenue, and the firm now believes that measurement revenue from Meta could double over the next 12-24 months after DoubleVerify adds brand safety suitability to its product suite, the analyst tells investors in a research note. Retail media networks will drive total addressable market and revenue upside for DoubleVerify as more brands insist on closing the loop between ad spending and sales, the firm added.