Andrew Boone, an analyst from JMP Securities, maintained the Buy rating on DoubleVerify Holdings (DV – Research Report). The associated price target is $20.00.
Andrew Boone has given his Buy rating due to a combination of factors influencing DoubleVerify Holdings. Despite a challenging fourth quarter in 2024, where revenue fell short of expectations due to a significant client’s reduced spending, Boone remains optimistic about the company’s future. This optimism is driven by DoubleVerify’s strategic investments in growth and acquisitions, which are expected to enhance its market position.
Furthermore, Boone highlights the potential for growth in social brand safety tools, as there is a demand for these products amidst changing content moderation practices on social platforms. Although these tools are still in the early stages, they represent a promising avenue for future revenue. Additionally, Boone notes that DoubleVerify has the potential to achieve substantial EBITDA margins, suggesting that the company’s financial health could improve significantly with strategic management decisions. Overall, while there are short-term challenges, the long-term prospects and valuation keep Boone positive on DoubleVerify’s stock.
In another report released today, Barclays also maintained a Buy rating on the stock with a $24.00 price target.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DV in relation to earlier this year.