DoubleVerify Revenue Grew Faster Than 'All Digital Ad Companies We Cover': Analyst
Portfolio Pulse from Priya Nigam
DoubleVerify Holdings Inc (NYSE:DV) is expected to see a 23% revenue growth in 2024, the fastest among all digital advertising companies covered by Needham. Analyst Laura Martin maintains a Buy rating and a price target of $45. The growth is attributed to several factors including social video impression growth, the SciBids acquisition, margin expansion, free cash flow growth, GenAI, retail media networks, immunity to cookie deprecation, and strong asset productivity trends. The digital advertising industry's growth suggests a long-term growth runway for DV, with a potential $800mm yearly revenue upside from CTV ad impressions verification. DV shares rose by 2.74% to $37.52.
December 22, 2023 | 5:40 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
DoubleVerify is projected to lead revenue growth in the digital advertising sector with a 23% increase in 2024, supported by various growth drivers and industry expansion.
The positive outlook from Needham's analyst Laura Martin, including a maintained Buy rating and a strong price target, suggests investor confidence and potential for stock price appreciation. The detailed growth drivers and the industry's growth trajectory further support the positive impact on DV's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100