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Investing.com - Canaccord Genuity lowered its price target on DoubleVerify (NYSE:DV) to $18.00 from $24.00 on Monday while maintaining a Buy rating following the company’s mixed third-quarter results. The digital media measurement firm’s shares currently trade at $9.39, down significantly from their 52-week high of $23.11.
The digital media measurement firm reported total revenue in line with guidance but approximately 1% below consensus, while profitability exceeded expectations due to expense discipline and operating leverage. Revenue grew 14.86% over the last twelve months, with impressive gross profit margins of 82.02% according to InvestingPro data. Market conditions proved volatile during the quarter, with softness in select retail budgets, though core verticals like CPG performed as expected.
DoubleVerify recently introduced a new AI Verification suite scheduled for full launch in early 2026, designed to identify and measure evasive AI activity while detecting and blocking synthetic or manipulated media across programmatic open web and social platforms. In connected TV, measurement volumes grew 30% year-over-year in Q3, with three new solutions launched to enhance monetization in this segment. The stock has taken a significant hit, dropping 16.31% over the last week alone.
The company provided fourth-quarter revenue guidance slightly below consensus at the midpoint and indicated it sees 10% growth next year as a base case. This projection does not factor in potential macro improvements or significant contributions from new social activation solutions, CTV, and AI products.
Canaccord reduced its Q4 and 2026 revenue estimates by approximately 1-2% based on management commentary but maintained its Buy rating, noting that multiple emerging growth drivers and current valuations limit downside risk at present levels. Analyst targets range from $8 to $22, while InvestingPro analysis suggests the stock is currently undervalued. Discover more insights and 12 additional ProTips for DoubleVerify in the comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, DoubleVerify has experienced several analyst adjustments following its third-quarter 2025 results. Truist Securities lowered its price target for DoubleVerify to $17, citing mixed results and a specific softness in the retail sector, which makes up about 14% of the company’s revenue. Needham also reduced its price target to $12, although it noted that the company’s revenue exceeded expectations and highlighted the introduction of six new AI and CTV products. RBC Capital adjusted its target to $20, describing the quarter as mixed but acknowledging that adjusted EBITDA surpassed expectations. Canaccord Genuity lowered its price target to $18, mentioning that while total revenue was in line with guidance, it fell slightly below consensus estimates. Despite this, the company showed strong profitability through expense discipline and operating leverage. Stifel maintained a Buy rating with a $20 price target, even after making slight downward revisions to revenue projections for the upcoming quarters. These developments reflect a cautious yet optimistic stance from analysts regarding DoubleVerify’s financial performance and future prospects.
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