Digital media measurement and analytics provider DoubleVerify (NYSE:DV) will be reporting results tomorrow after market hours. Here's what to expect.
Last quarter DoubleVerify reported revenues of $96.7 million, up 43.1% year on year, beating analyst revenue expectations by 7.58%. It was a very strong quarter for the company, with an exceptional revenue growth and an impressive beat of analyst estimates.
Is DoubleVerify buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting DoubleVerify's revenue to grow 33.2% year on year to $101.9 million, slowing down from the 44.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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 4.03%.
Looking at DoubleVerify's peers in the sales and marketing software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Qualtrics delivered top-line growth of 42.9% year on year, beating analyst estimates by 3.34% and Zendesk reported revenues up 27.9% year on year, exceeding estimates by 0.62%. Qualtrics traded down 5.24% on the results, and Zendesk was flat on the results. Read our full analysis of Qualtrics's results here and Zendesk's results here.
Technology stocks have been hit hard on fears of higher interest rates and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 3.08% over the last month. DoubleVerify is down 8.34% during the same time, and is heading into the earnings with analyst price target of $30.7, compared to share price of $22.62.
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The author has no position in any of the stocks mentioned.