- Two analysts offered different views on DoubleVerify Holdings Inc (NYSE:DV).
- JPMorgan analyst Mark Murphy downgraded DoubleVerify to Neutral from Overweight with a price target of $32, down from $42 (31.2% upside).
- The analyst does not anticipate any near-term issues and expects to increase his revenue forecast following the close of the OpenSlate acquisition.
- However, DoubleVerify shares will likely trade more in line with the market for now, as its organic growth rates "could downtick with modest margin contraction in 2022," Murphy tells investors in a research note. He sees a more challenging setup for the stock in 2022.
- BMO Capital analyst Daniel Salmon initiated coverage of DoubleVerify with an Outperform rating and $37 price target (51.7% upside).
- The analyst believes the company "offers a greater degree of safety from regulatory and platform change risk" and features an emerging connected TV business along with growth opportunities across both the open web and walled gardens.
- Price Action: DV shares traded lower by 7.82% at $24.82 on the last check Wednesday.
