DoubleVerify downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Eric Sheridan downgraded DoubleVerify (DV) to Neutral from Buy with a price target of $20, down from $24. The company’s Q4 report reflected a “muted” demand environment to end the year and entering 2025 as several headwinds continue to weigh on sales growth, the analyst tells investors in a research note. The firm says that despite DoubleVerify continuing to lay the groundwork for several long-term growth opportunities, a confluence of factors has caused the company to downwardly revise its growth outlook for 2025. Goldman needs better visibility into when and to what magnitude the company’s opportunities manifest. As such, it sees a more balanced risk/reward on the shares until DoubleVerify can return to a “more consistent and linear operating performance.”