DoubleVerify (DV) PT Raised to $18 at Stifel

Stifel analyst Mark Kelley raised the price target on DoubleVerify (NYSE: DV) to $18.00 (from $17.00) while maintaining a Buy rating.

The analyst commented, “On Wednesday (6/11), we attended DV's Innovation Day in NYC, during which the company shared several product updates and provided updated expectations for 2Q / FY25. Most of the day was spent discussing the launch of the Media AdVantage Platform (MAP) and new Authentic AdVantage and Performance AdVantage tools, which leverage the company's legacy solutions and directly combine them with the recently acquired Scibids and Rockerbox technology. We believe the new bundled product platform and solutions packages should lead to increased product adoption / upsell opportunities and may give DV more optionality in pricing discussions (Scibids is a take-rate, nonfixed price model) to better monetize fast-growing, higher-CPM channels like CTV. Overall, we walk away from today with a better grasp on DV's go-to-market and growth strategies and remain positive on the company's ability to deliver value to advertisers through its entire product suite.”

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