JMP Securities Sees Huge Upside In DoubleVerify Thanks To Facebook

JMP Securities analyst Andrew Boone reiterated an Outperform rating and $41 price target on DoubleVerify Holdings Inc DV, implying a 28% upside.
Facebook, rebranded as Meta Platforms Inc FB, suggested plans to work with third parties for brand safety on its News Feed in what could be an ~$200 million opportunity for DoubleVerify, Boone notes.
With product development in 2022, and revenue beginning in 2023, the analyst is incrementally confident that revenue growth can sustain 30%+ levels.
DoubleVerify is a digital media measurement and analytics software platform.
Price Action: DV shares traded higher by 2.17% at $32.1 on the last check Friday.