Digital media measurement and analytics provider DoubleVerify (NYSE:DV) will be reporting results tomorrow after market hours. Here's what you need to know.
Last quarter DoubleVerify reported revenues of $133.7 million, up 21.8% year on year, in line with analyst expectations. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter.
Is DoubleVerify buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting DoubleVerify's revenue to grow 23.8% year on year to $139 million, slowing down from the 35.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.6%.
Looking at DoubleVerify's peers in the sales and marketing software segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. Zeta delivered top-line growth of 24.1% year on year, beating analyst estimates by 5.7% and Sprout Social (NASDAQ:SPT) reported revenues up 31% year on year, exceeding estimates by 1.6%. Zeta traded flat on the results, Sprout Social was up 16.9%.
Read the full analysis of Zeta's and Sprout Social's results on StockStory.
There has been a stampede out of high valuation technology stocks and while some of the sales and marketing software stocks have fared somewhat better, they have not been spared, with share price declining 3% over the last month. DoubleVerify is up 3.1% during the same time, and is heading into the earnings with analyst price target of $39.6, compared to share price of $29.5.
The author has no position in any of the stocks mentioned.