DoubleVerify price target lowered to $13.50 from $18.50 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan lowered the firm’s price target on DoubleVerify (DV) to $13.50 from $18.50 and keeps a Neutral rating on the shares as part of a broader research note previewing Q3 results in Digital Advertising names. On revenue growth estimates, the firm is cautious amid continued uncertain macro environment, while on expenses, Goldman is lowering its forward margin estimates to better align with the company’s expectation to continue to invest in key growth initiatives, the analyst tells investors in a research note.