DoubleVerify downgraded to Neutral from Outperform at Baird

Baird analyst Vikram Kesavabhotla downgraded DoubleVerify (DV) to Neutral from Outperform with a price target of $14, down from $20. The firm says execution challenges across the internet and digital services group over the past year have heightened its concerns regarding the category. Further, the current macro uncertainty “adds another layer of risk” to a recovery in execution and sentiment, the analyst tells investors in a research note. Baird believes investor interest in the group will likely remain stagnant over the near term. As such, it finds it “too challenging to recommend the shares at this stage.”