Here's Why DoubleVerify Shares Are Trading Lower Today

  • Two analysts offered different views on DoubleVerify Holdings Inc DV.
  • JPMorgan analyst Mark Murphy downgraded DoubleVerify to Neutral from Overweight with a price target of $32, down from $42 (31.2% upside). 
  • The analyst does not anticipate any near-term issues and expects to increase his revenue forecast following the close of the OpenSlate acquisition. 
  • However, DoubleVerify shares will likely trade more in line with the market for now, as its organic growth rates "could downtick with modest margin contraction in 2022," Murphy tells investors in a research note. He sees a more challenging setup for the stock in 2022.
  • BMO Capital analyst Daniel Salmon initiated coverage of DoubleVerify with an Outperform rating and $37 price target (51.7% upside). 
  • The analyst believes the company "offers a greater degree of safety from regulatory and platform change risk" and features an emerging connected TV business along with growth opportunities across both the open web and walled gardens. 
  • Price Action: DV shares traded lower by 7.82% at $24.82 on the last check Wednesday.
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