Piper Sandler analyst Matt Farrell lowered the firm’s price target on DoubleVerify to $40 from $45 and keeps an Overweight rating on the shares following the Innovation Day event. The Scibids acquisition provides DoubleVerify with AI-powered digital campaign optimization tools, and the firm walked away from the event with a better understanding of the company’s AI initiatives, the impact Scibids will have on DoubleVerify, and the longer-term opportunity on a go-forward basis, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DV:
- DoubleVerify price target lowered to $40 from $43 at JMP Securities
- DoubleVerify raises FY23 revenue view to $562M-$572M from $557M-$569M
- DoubleVerify narrows Q3 revenue view to $137M-$141M from $135M-$141M
- DoubleVerify price target lowered to $40 from $45 at KeyBanc
- DoubleVerify participates in a conference call with JMP Securities