DoubleVerify initiated with an Overweight at Wells Fargo

Wells Fargo analyst Brian Fitzgerald initiated coverage of DoubleVerify with an Overweight rating and $44 price target. The analyst sees a “rising tide in verification, supporting two strong players.” While DoubleVerify’s upside potential looks moderate post the year-to-date share rally, the risk/reward remains favorable, the analyst tells investors in a research note. Wells says digital media verification “faces multiple favorable trends,” including the the rise of user-generated social media and programmatic media execution.