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Stifel raised its price target on DoubleVerify (NYSE: NYSE:DV) stock to $18.00 from $17.00 on Thursday, while maintaining a Buy rating following the company’s Innovation Day in New York City. According to InvestingPro data, the company maintains impressive gross profit margins of 82.26% and has seen three analysts revise earnings upward for the upcoming period.
The digital media measurement firm unveiled its new Media AdVantage Platform (MAP) on Wednesday, along with new Authentic AdVantage and Performance AdVantage tools that integrate the company’s existing solutions with technology from its recently acquired Scibids and Rockerbox businesses. The company’s strong financial position is evident in its robust balance sheet, with InvestingPro analysis showing more cash than debt and a healthy current ratio of 3.72.
Stifel believes the new bundled product platform and solutions packages will create increased product adoption and upsell opportunities for DoubleVerify, potentially giving the company more flexibility in pricing discussions.
The research firm specifically noted that Scibids operates on a take-rate, non-fixed price model, which could help DoubleVerify better monetize fast-growing, higher-CPM channels such as connected TV (CTV).
During the Innovation Day event, DoubleVerify also provided updated expectations for the second quarter and full fiscal year 2025, reinforcing Stifel’s positive outlook on the company’s ability to deliver value to advertisers through its entire product suite.
In other recent news, DoubleVerify has updated its financial guidance for the second quarter and full year 2025, projecting a revenue increase of approximately 17% year-over-year for the second quarter. The company expects revenue between $180 million and $184 million and adjusted EBITDA ranging from $52 million to $56 million, which reflects a 30% margin at the midpoint. For the full year 2025, DoubleVerify forecasts revenue growth of about 13% with an adjusted EBITDA margin of around 32%. This optimistic outlook is attributed to strong execution and sustained demand for its solutions. In addition, DoubleVerify announced a partnership with Lyft (NASDAQ:LYFT), aiming to provide media verification capabilities across Lyft’s advertising platform, enhancing transparency and trust for advertisers. The company also launched the DV Authentic AdVantage, a new AI-powered media quality solution for video ads, integrating its verification capabilities with AI technology. Analyst firms such as Canaccord Genuity and Citizens JMP have maintained their positive ratings on DoubleVerify, highlighting growth potential and favorable risk/reward profiles. These developments follow DoubleVerify’s strategic product launches and acquisitions, including Scibids and Rockerbox, which have strengthened its platform offerings.
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