Why DoubleVerify Stock Was Down on Tuesday
DoubleVerify (NYSE: DV) investors were in the red on Tuesday. Shares of the digital advertising analytics specialist were down 15% by 3:30 p.m. ET, compared to a 0.2% decline in the S 500. Shares remain far higher on the year, though. DoubleVerify investors have gained over 60% in 2023 while the wider market is up 19%.
Tuesday's spike came after the company announced quarterly results and revealed a new acquisition that will cost over $100 million.
Second-quarter results were generally strong, with revenue rising 22% through the quarter that ended in late June. That increase was driven by higher transactions on its media analytics platform, along with a tilt toward higher-priced products. DoubleVerify won some big new clients in the quarter, too, including 's Sam's Club and Pizza Hut.
Source Fool.com
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