DoubleVerify initiated with an Outperform at Baird

Baird analyst Vikram Kesavabhotla initiated coverage of DoubleVerify with an Outperform rating and $38 price target. The analyst expects the company to benefit from the integration of the Scibids acquisition, which it the firm thinks should offer a variety of strategic benefits to enhance the platform. In addition, DoubleVerify is making progress on cross-selling existing customers and expanding into International markets, the analyst tells investors in a research note. Baird says the business is well aligned with ongoing trends in the advertising industry.