As previously reported, BofA double downgraded DoubleVerify to Underperform from Buy with a price target of $18, down from $45. The firm cites predominantly long positioning, difficulty justifying high long-term growth expectations and a lack of bullish catalysts. The company’s lowered calendar year 2024 guidance and its explanations are not consistent with a “predictable greater than 20% long term grower,” the analyst tells investors.
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Read More on DV:
- DoubleVerify price target lowered to $21 from $30 at JPMorgan
- DoubleVerify downgraded to Sector Weight from Overweight at KeyBanc
- DoubleVerify cuts FY24 revenue view to $663M-$675M from $688M-$704M
- DoubleVerify sees Q2 revenue $152M-$156M, consensus $158.54M
- DoubleVerify reports Q1 EPS 4c, consensus 2c