DoubleVerify price target raised to $40 from $35 at Canaccord

Canaccord analyst Michael Graham raised the firm’s price target on DoubleVerify to $40 from $35 and keeps a Buy rating on the shares. The analyst said they reported strong Q4 results, with total revenue coming in ahead of consensus and adjusted EBITDA above both consensus and the upper end of the guidance range. Canaccord said the current valuation and setup as attractive given solid ongoing execution, multiple growth vectors, and strong margin profile, which should support upward estimate revisions and multiple expansion over time.