DoubleVerify And META's Anticipated Verification Launch: A $90M Opportunity According To Analyst
Portfolio Pulse from Lekha Gupta
JMP Securities analyst Andrew Boone has raised the price target on DoubleVerify Holdings Inc (DV) to $45 from $35, reiterating Market Outperform. Boone sees a $90 million opportunity in the anticipated verification launch by Meta Platforms Inc (META) and DoubleVerify by the end of 2023. However, due to uncertainty around the rollout, only $40 million of this has been incorporated into 2024 projections. Boone expects the contribution margin for Meta brand safety revenue to be at least 80%.
July 17, 2023 | 7:07 pm
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DoubleVerify's price target has been raised to $45 from $35 by JMP Securities analyst Andrew Boone, who sees a $90 million opportunity in the anticipated verification launch with Meta.
The raised price target and the anticipated verification launch with Meta, seen as a significant opportunity, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Meta Platforms is expected to launch third-party verification of brand safety with DoubleVerify by the end of 2023, seen as a $90 million opportunity by JMP Securities analyst Andrew Boone.
The anticipated verification launch with DoubleVerify, seen as a significant opportunity, could boost investor confidence in Meta and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80