William Blair analyst Arjun Bhatia has maintained their neutral stance on DV stock, giving a Hold rating yesterday.
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Arjun Bhatia has given his Hold rating due to a combination of factors that reflect both positive developments and cautious optimism. DoubleVerify Holdings exceeded expectations in the second quarter, with a notable increase in revenue driven by new customer acquisitions and expanded usage among existing clients. The company’s revenue lines, particularly Activation, performed well, and there was a significant growth in Authentic Brand Safety. Despite these achievements, management maintains a conservative outlook due to uncertainties in the macro environment.
Additionally, while the company is making strides in reaccelerating its growth, with promising initiatives like Connected TV premium products and a unified platform rollout, the stock is currently trading at 9.7 times the revised 2026 EBITDA estimate. Although there are encouraging signs of recovery from past customer headwinds, Bhatia is looking for further evidence of sustainable revenue growth before considering a more favorable rating. This balanced view leads to a Hold recommendation, reflecting both the potential and the risks associated with the stock.
In another report released yesterday, Bank of America Securities also reiterated a Hold rating on the stock with a $18.00 price target.