DoubleVerify price target lowered to $15 from $20 at Stifel

Stifel lowered the firm’s price target on DoubleVerify (DV) to $15 from $20 and keeps a Buy rating on the shares. Q3 results and the Q4 guidance fell short of the mark on the top-line, though beat expectations on the bottom-line, the analyst noted. While the company did not give any guidance for next year yet, management’s early thoughts suggested the “base case” reflects revenue growth of 10%, versus the Street at 11.7%, though the firm believes this revenue growth base case may prove to be conservative as the year plays out, the analyst added.