Goldman Sachs analyst Eric Sheridan maintains $DoubleVerify (DV.US)$ with a buy rating, and adjusts the target price from $28 to $25.
According to TipRanks data, the analyst has a success rate of 56.2% and a total average return of 13.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $DoubleVerify (DV.US)$'s main analysts recently are as follows:
The growth estimates for DoubleVerify have been moderated to align more closely with the management's recent discussions, which touched on persistent challenges stemming from a specific group of six advertisers.
In the process of a routine software Q3 earnings preview, observations were made that supplier checks have declined, tempering enthusiasm for the software sector's performance in the Q3 earnings season. It's anticipated that Dynatrace could exceed expectations and raise forecasts for the quarter. Meanwhile, there have been less optimistic findings regarding Microsoft, although it's possible that these concerns are already reflected in its current valuation. It's also suggested that DoubleVerify may face a challenging environment that could restrict its potential for upside.
Intra-quarter discussions with DoubleVerify revealed a more cautious stance compared to the optimism presented in the Q2 earnings call. Looking at the wider digital advertising sector, indications point towards a growth acceleration in Q3 surpassing initial agency expectations, which is anticipated to continue into Q4, bolstered by U.S. election ad spending and a strong holiday season.
Note:
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