Wells Fargo analyst Brian Fitzgerald lowered the firm’s price target on DoubleVerify to $41 from $44 and keeps an Overweight rating on the shares. The stock was pressured after-hours due to slightly weaker guidance for FY24 and soft guidance for Q1, the analyst tells investors in a research note. Management emphasized that pricing is not a factor, and Wells views the pullback as overdone.
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- DoubleVerify sees 2024 revenue $688M-$704M, consensus $707.89M
- DoubleVerify sees Q1 revenue $134M-$140M, consensus $147.09M