DoubleVerify price target lowered to $43 from $45 at JMP Securities

JMP Securities analyst Andrew Boone lowered the firm’s price target on DoubleVerify (DV) to $43 from $45 and keeps an Outperform rating on the shares. DoubleVerify’s Q2 results were solid, and the company announced the acquisition of Scibids Technology, an AI-powered digital campaign optimization tool, for $125M, the analyst tells investors in a research note. DoubleVerify is accelerating and emphasizing its performance products with the acquisition of Scibids, the firm says, adding that it is operating well in a volatile ad market, while brand safety in the Facebook (META) feed remains a significant catalyst for 2024.