DoubleVerify falls on weak FY revenue forecast; brokerages cut PT

DoubleVerify Holdings

29/02/2024 14:34

** Shares of software platform for digital media
DoubleVerify Holdings  DV.N  down 20.7% at $31.40 in early
trading
    ** Co expects Q1 revenue in the range of $136 to $140
million compared with analyst's est. of $139 mln - LSEG data
    ** DV expects full-year 2024 rev. in the range of $688 to
$704 million vs analysts' est. 698.30 mln
    ** Atleast four brokerages cut PT after downbeat forecast
    ** "Activation will grow slightly slower than measurement,
given the decel in 1Q24" says Bofa Global Research
    ** Reports Q4 rev of $172.23 mln vs est of 171.80 mln
    ** Nineteen of 21 brokerages rate the stock "buy" or higher,
2 "hold"; their median PT is $41.00
    ** Up to last close, DV stock has risen ~7% YTD compared
with gain of ~70% in 2023

 (Reporting by Priyanka.G)
 ((Priyanka.g@thomsonreuters.com))