Why DoubleVerify Stock Fell Off a Cliff This Week
One of the tech stocks more deeply in the red over the past few trading days was advertising technology specialist DoubleVerify Holdings (NYSE: DV). That's because it missed the average analyst estimate for profitability, reduced its guidance, and was socked with several price target cuts from prognosticators.
Those factors were too great to overcome. According to data compiled by S&P Global Market Intelligence, DoubleVerify's share price plunged by almost 38% over the course of the trading week as a result.
DoubleVerify did manage to post 15% year-over-year revenue growth in its first quarter and beat the consensus prognosticator estimate for that line item. The dynamic on the bottom line wasn't great, however, with the company reporting a decline in net income and delivering a whiff on the average prognosticator forecast.
Source Fool.com
