By Sabela Ojea
Shares of DoubleVerify touched a record low after its full-year outlook missed Wall Street estimates, its fourth-quarter revenue came in lower than expected and two firms cut their target prices.
The stock was down 35%, to an all-time low of $14.03, midday Friday. The shares are on pace for their largest percentage decrease since May 8 and are down 25% year to date.
DoubleVerify on Thursday said it expects first-quarter revenue between $151 and $155 million, and full-year revenue growth of 10%. Wall Street projects first-quarter revenue of $154.6 million and full-year revenue growth of around 12%, to $732.4 million.
The software-platform developer also posted fourth-quarter revenue growth of $190.6 million, for a year-over-year gain of 11%, but below the $196.8 million expected by analysts polled by FactSet.
Earlier Friday, Goldman Sachs cut its target price for the New York company's shares to $20 from $24, and Canaccord Genuity cut its target to $26 from $30.
"We continue to balance profitability with strategic investments, such as the Rockerbox acquisition, which enhances our ability to drive long-term value for advertisers," Finance Chief Nicola Allais said. The company announced $85 million deal for Rockerbox on Wednesday.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 28, 2025 12:25 ET (17:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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