Why Is DoubleVerify (DV) Stock Down 39% Today?


  • DoubleVerify (DV) stock is falling on Wednesday alongside its latest earnings report.
  • That’s due to a weak guidance for Q2 and the full year of 2024.
  • This is despite its Q1 results beating or matching estimates.
DV Stock - Why Is DoubleVerify (DV) Stock Down 39% Today?

Source: Shutterstock

DoubleVerify (NYSE:DV) stock is falling on Wednesday after the data analytics company released its earnings report for the first quarter of 2024.

The bad news for DV stockholders comes from its guidance in this report. That includes a Q1 revenue outlook of $152 million to $156 million. That’s going to miss Wall Street’s estimate of $158.54 million for the quarter.

DoubleVerify’s outlook for the full year of 2024 isn’t much better. it expects revenue for the period to come in between $663 million to $675 million. That would also have the company’s missing analysts’ revenue estimate of $696.11 million for the year.

DoubleVerify Chief Financial Officer Nicola Allais said the following about this outlook:

“We are adjusting our full-year 2024 guidance ranges to 17% revenue growth, and 31% adjusted EBITDA margins at the midpoints primarily due to uneven spending patterns among select large advertisers.”

DV Stock Earnings Results

The poor guidance drags down an otherwise solid Q1 earnings with EPS of 4 cents. That comes in above Wall Street’s estimate of 3 cents per share. However, it is down year-over-year from 7 cents.

Revenue for the quarter was $140.78 million, matching analysts’ estimates. It’s also a 15% increase from the first quarter of 2023.

DV stock is down 39.2% as of Wednesday morning.

Below are more stock market stories for traders to read!

We have all of the hottest stock market news on Wednesday. That includes everything happening with shares of Treace Medical Concepts (NASDAQ:TMCI) stock, Innodata (NASDAQ:INOD) stock and iSun (NASDAQ:ISUN) stock today. You can find more on these matters at the following links!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/05/why-is-doubleverify-dv-stock-down-39-today/.

©2024 InvestorPlace Media, LLC