DoubleVerify (DV)
Market Price (12/18/2025): $11.26 | Market Cap: $1.8 BilSector: Communication Services | Industry: Advertising
DoubleVerify (DV)
Market Price (12/18/2025): $11.26Market Cap: $1.8 BilSector: Communication ServicesIndustry: Advertising
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% | Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -123% | Key risksDV key risks include [1] its legacy open-exchange verification model being challenged by the dominance of closed platforms, Show more. |
| Attractive yieldFCF Yield is 7.2% | ||
| Megatrend and thematic driversMegatrends include Digital Advertising, Cloud Computing, and Artificial Intelligence. Themes include Ad-Tech Platforms, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Attractive yieldFCF Yield is 7.2% |
| Megatrend and thematic driversMegatrends include Digital Advertising, Cloud Computing, and Artificial Intelligence. Themes include Ad-Tech Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -123% |
| Key risksDV key risks include [1] its legacy open-exchange verification model being challenged by the dominance of closed platforms, Show more. |
Valuation, Metrics & Events
DV Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are five key points explaining the approximate -30.9% stock movement for DoubleVerify (DV) for the period from August 31, 2025, to December 18, 2025:
1. Significant Analyst Price Target Reductions
Several financial firms lowered their price targets for DoubleVerify around November 2025, indicating a more cautious outlook. For instance, Barclays reduced its price objective from $18.00 to $12.00, while Stifel Nicolaus lowered its target from $20.00 to $15.00. Royal Bank of Canada also cut its price target from $23.00 to $20.00.
2. Revenue Slightly Missed Estimates
DoubleVerify's revenue for the third quarter of 2025, reported on November 7, 2025, was $188.62 million, which slightly missed analyst consensus estimates of $190.43 million, despite an 11.2% year-over-year growth.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DV Return | � | � | -34% | 67% | -48% | -42% | � |
| Peers Return | � | � | -56% | 22% | 6% | -16% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| DV Win Rate | � | 62% | 50% | 58% | 50% | 50% | |
| Peers Win Rate | � | 45% | 32% | 53% | 43% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| DV Max Drawdown | � | � | -45% | -1% | -56% | -51% | |
| Peers Max Drawdown | � | � | -65% | -23% | -30% | -45% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: IAS, TTD, MGNI, PUBM, SCOR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)
How Low Can It Go
| Event | DV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -61.2% | -25.4% |
| % Gain to Breakeven | 157.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to CACI, GXO, SAIC, CLVT, FIVN
In The Past
DoubleVerify's stock fell -61.2% during the 2022 Inflation Shock from a high on 6/29/2021. A -61.2% loss requires a 157.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to DV. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -1.3% | -1.4% | |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 13.6% | 13.6% | 0.0% |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.0% | -5.0% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -3.9% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 1.3% | 1.3% | -5.6% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -14.2% | -14.2% | -27.9% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -1.3% | -1.4% | |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 13.6% | 13.6% | 0.0% |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.0% | -5.0% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -3.9% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 1.3% | 1.3% | -5.6% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -14.2% | -14.2% | -27.9% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for DoubleVerify
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.76 |
| Mkt Cap | 1.8 |
| Rev LTM | 647 |
| Op Inc LTM | 72 |
| FCF LTM | 137 |
| FCF 3Y Avg | 107 |
| CFO LTM | 177 |
| CFO 3Y Avg | 140 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.6% |
| Rev Chg 3Y Avg | 11.1% |
| Rev Chg Q | 11.0% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Mgn LTM | 10.8% |
| Op Mgn 3Y Avg | 4.7% |
| QoQ Delta Op Mgn LTM | -0.9% |
| CFO/Rev LTM | 29.0% |
| CFO/Rev 3Y Avg | 26.3% |
| FCF/Rev LTM | 20.9% |
| FCF/Rev 3Y Avg | 18.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.8 |
| P/S | 2.8 |
| P/EBIT | 32.2 |
| P/E | 39.8 |
| P/CFO | 10.3 |
| Total Yield | 1.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.9% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.1% |
| 3M Rtn | -5.0% |
| 6M Rtn | -15.3% |
| 12M Rtn | -22.7% |
| 3Y Rtn | -25.3% |
| 1M Excs Rtn | 4.3% |
| 3M Excs Rtn | -5.7% |
| 6M Excs Rtn | -27.7% |
| 12M Excs Rtn | -34.5% |
| 3Y Excs Rtn | -97.7% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/7/2025 | -14.4% | -4.6% | -0.3% |
| 8/5/2025 | 2.5% | -3.3% | -1.5% |
| 5/8/2025 | -5.6% | 1.9% | 3.6% |
| 2/27/2025 | -36.0% | -30.8% | -38.6% |
| 11/6/2024 | 0.9% | 4.0% | 5.7% |
| 7/30/2024 | -2.1% | -12.1% | -11.1% |
| 2/28/2024 | -21.3% | -24.7% | -10.4% |
| 11/9/2023 | 5.6% | 7.4% | 15.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 9 |
| # Negative | 6 | 8 | 8 |
| Median Positive | 4.8% | 4.0% | 11.7% |
| Median Negative | -14.6% | -8.3% | -9.2% |
| Max Positive | 6.8% | 19.5% | 29.6% |
| Max Negative | -36.0% | -30.8% | -38.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11072025 | 10-Q 9/30/2025 |
| 6302025 | 8052025 | 10-Q 6/30/2025 |
| 3312025 | 5082025 | 10-Q 3/31/2025 |
| 12312024 | 2272025 | 10-K 12/31/2024 |
| 9302024 | 11062024 | 10-Q 9/30/2024 |
| 6302024 | 7302024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2282024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 7312023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 3012023 | 10-K 12/31/2022 |
| 9302022 | 11082022 | 10-Q 9/30/2022 |
| 6302022 | 8032022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 3082022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Grimmig Andrew E | Chief Legal Officer | 11052025 | Sell | 11.30 | 1,000 | 11,300 | 1,065,601 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |