Barclays raised the firm’s price target on DoubleVerify to $40 from $36 and keeps an Overweight rating on the shares. The analyst believes “we are in the middle of a year-end rally in software.” Looking at current valuation levels shows that enterprise value to sales multiples are up by a full turn since early November, but still below the long-term average, which could provide further support, the analyst tells investors in a research note. The firm moved price targets to a 2025 base year, which lowers multiples further.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on DV:
- DoubleVerify 12.5M share Spot Secondary priced at $30.45
- DoubleVerify 12.5M share Spot Secondary; price range $30.45-$30.95
- DoubleVerify announces offering of 12.5M shares of common stock for holders
- DoubleVerify sees FY23 revenue $570M-$574M, consensus $566.42M
- DoubleVerify sees Q4 revenue $170M-$174M, consensus $171.32M