DoubleVerify initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of DoubleVerify with an Overweight rating and $35 price target. DoubleVerify is a leading player in the verification of safety, security, and transparency of an advertising transaction, as the company looks to deliver independent media quality and performance solutions to drive better outcomes for advertisers, the analyst tells investors in a research note. The firm likes the company’s positioning for both the macro uncertainty and the secular drivers of connected TV and retail media. DoubleVerify’s diversified revenue stream, flat fixed transaction fee, volume model, and focus on brand safety "have helped it outperform," says Piper.