DoubleVerify price target raised to $17 from $16 at Raymond James

Raymond James raised the firm’s price target on DoubleVerify (DV) to $17 from $16 and keeps an Outperform rating on the shares. DoubleVerify’s Q1 report was above expectations, but the optimism was tempered by a reiterated full year guide incorporating caution around the macro picture, the analyst tells investors in a research note. DoubleVerify is still set up well to weather a potential macro storm versus adtech peers, and initiatives like Social relationships and Moat customer acquisition and upsell are continuing apace, but the real near-term drivers are still rooted in steady execution of core offerings, Raymond James argues.