DoubleVerify price target lowered to $16 from $22 at Raymond James

Raymond James analyst Andrew Marok lowered the firm’s price target on DoubleVerify (DV) to $16 from $22 and keeps an Outperform rating on the shares. The firm’s checks suggest that the ad industry had held up “pretty well” in Q1, with “largely positive” economic conditions through March and consumer health perceptions supported a solid ad backdrop, the analyst tells investors in a research note. While the firm expects solid Q1 results, Raymond James expects a guidance reiteration, not raise, given reduced visibility.