8 Tech Stocks with Biggest Upside Potential According to Analysts

6) DoubleVerify Holdings, Inc. (NYSE:DV)

Expected Upside Potential: 50.72%

Number of Hedge Fund Holders: 20

DoubleVerify Holdings, Inc. (NYSE:DV) offers a software platform for digital media measurement, and data analytics in the US and internationally.

DoubleVerify Holdings, Inc. (NYSE:DV) continues to capitalize on the momentum from new partnerships and the closure of competing services such as Oracle’s Moat and Grapeshot, with expectations of revenue impact beginning from early 2025. Notably, Video impressions outpaced display impressions for the first time. This underscores the success of the Verify Everywhere strategy.

Wall Street analysts believe that DoubleVerify Holdings, Inc. (NYSE:DV) remains well-placed for long-term growth as a result of new partnerships, including Philip Morris, Bacardi, Panera, and others. The company sees healthy growth opportunities in social, CTV, retail media networks, and the open web. DoubleVerify Holdings, Inc. (NYSE:DV) remains confident in its near- and long-term growth, given its continued focus on expanding social measurement solutions and CTV verification. Its retail media supply side solutions witnessed more than 50% revenue growth and these are anticipated to maintain a healthy growth trajectory.

The company signed multiple new partners and customers, such as DailyMotion and Ziff Davis, which should boost growth in H2 2024. Market experts believe that, given its strategic focus on social and CTV metrics, together with a growing supply-side platform business, DoubleVerify Holdings, Inc. (NYSE:DV)  remains well-capitalized on the dynamic digital advertising landscape.

Needham & Company LLC reiterated a “Buy” rating on the shares of DoubleVerify Holdings, Inc. (NYSE:DV), setting a price target of $33.00 on 17^th September.

The London Company, an investment management company, released second-quarter 2024 investor letter. Here is what the fund said:

“Initiated: DoubleVerify Holdings, Inc. (NYSE:DV) – DV develops software platforms for digital media measurement, data, and analytics. DV sells a critical insurance-like product known as “ad verification,” designed to create transparency, eliminate fraud, and drive ad-spending optimization. Ad verification has reached a point of mass acceptance among digital ad buyers due to its measurable low cost/high reward value proposition. DV operates in a duopoly where it commands the leading market position (>50% market share), by focusing on product innovation rather than sales expansion. DV’s business should continue to benefit from secular tailwinds in digital advertising. Incremental revenue growth should be accretive to returns on capital, given the its high cash margins and minimal capex needs. We initiated our position following a pullback, allowing us to purchase an advantaged company growing at a double- digit rate, with high margins, at a market multiple.”