DoubleVerify
July 31, 2023
Total revenue is only ~$133m ahead of our estimate which is a smaller beat than usual with Activation revenue ahead nicely but Measurement revenue softer than expected. Adjusted Ebitda is better. Full year guidance unchanged….
May 15, 2023
We are updating our model to reflect Q1 results and the guidance for Q2. Our revised price target of $36 is based on the current EV/FY24 Adjusted Ebitda multiple of 23x applied to our FY25…
May 10, 2023
Another solid quarter from DV. We expect conviction in estimates to continue building throughout the year, the forecast and guidance look beatable at this point, and comps get easier in Q3 and Q4. Activation revenue…
March 2, 2023
We believe that Q4 results and the guidance for Q1 and full FY23, in line with expectations (equals a raise in this environment for ad tech names), once again highlight the fact that DV offers…
March 1, 2023
Q4 results ahead of expectations, guidance for Q1 and full FY23 (!) in line with the consensus but light compared to our Street-high forecast. Although not the usual beat-and-raise, we think the stock should get…
January 4, 2023
Based on our recent conversation with industry sources we believe that digital advertising trends played out in Q4 generally in line with what the companies in our coverage universe expected when they reported Q3: no…