In a report released today, Laura Martin from Needham maintained a Buy rating on DoubleVerify Holdings (DV – Research Report), with a price target of $18.00.
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Laura Martin’s rating is based on several strategic advancements by DoubleVerify Holdings that enhance its market position and growth potential. The company’s shift in strategy to expand its product offerings beyond verification to include cost-saving solutions for clients is a significant factor. This strategic pivot not only broadens its total addressable market but also strengthens its competitive edge and pricing power.
Another key factor is DoubleVerify’s involvement in the growing trend of curation within the AdTech industry. By partnering with major players like Microsoft, Criteo, Index Exchange, and Google, DoubleVerify is well-positioned to capitalize on the increasing demand for curated audience segments, which could drive revenue growth. Additionally, the anticipated launch of their CTV quality scoring product in 2025, designed to provide detailed brand suitability scores, further underscores the company’s commitment to innovation and client-specific solutions.
Martin covers the Communication Services sector, focusing on stocks such as Magnite, Roku, and Perion Network. According to TipRanks, Martin has an average return of 3.8% and a 47.29% success rate on recommended stocks.
In another report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $21.00 price target.
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