Why DoubleVerify Stock Got Crushed Today [Yahoo! Finance]
DoubleVerify Holdings, Inc. (DV)
US:NYSE Investor Relations:
investors.adtalem.com
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Source: Yahoo! Finance
As of noon ET, DoubleVerify stock was down a staggering 39%. Here's the real problem Financial results for the first quarter of 2024 weren't bad at all for DoubleVerify. Management expected revenue of $140 million, at best, for the quarter, and the company generated almost $141 million. Moreover, it was a profitable quarter, with $7 million in Q1 net income , which is good for a young, growing company. The problem for DoubleVerify wasn't the Q1 report but, rather, the expectations for the rest of 2024. Management originally thought it could grow full-year revenue by about 22% year over year. But now it's expecting closer to 17% growth -- and that's a decent reduction. Analysts were confused about how DoubleVerify could outperform in Q1 but expect underperformance for the year. Management clarified that some of its customers were pulling back on spending, most notably in April (after Q1 was over). And it lowered guidance, anticipating that the trend would continue. That's what
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News
- INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of DoubleVerify Holdings, Inc. (DV) on Behalf of InvestorsBusiness Wire
- Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of DoubleVerify Holdings, Inc. (DV) on Behalf of InvestorsBusiness Wire
- DoubleVerify Announces $150 Million Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- DoubleVerify Announces $150 Million Share Repurchase ProgramBusiness Wire
- The Law Offices of Frank R. Cruz Announces Investigation of DoubleVerify Holdings, Inc. (DV) on Behalf of InvestorsBusiness Wire
DV
Earnings
- 5/7/24 - Beat
DV
Sec Filings
- 5/17/24 - Form 4
- 5/16/24 - Form 8-K
- 5/15/24 - Form 4
- DV's page on the SEC website