Long Position on DV @ $32.00 on 5/25/2023 (Momentum)

DoubleVerify Holdings, Inc. (DV) provides a software platform for digital media measurement, and analytics in the United States and internationally. 

The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.

It also offers solutions include DV Authentic Ad, a metric of digital media quality, which evaluates the existence of fraud-free, brand-suitable, viewability, and geography for each digital ad; DV Authentic Attention solution that provides exposure and engagement predictive analytics to drive campaign performance; and Custom Contextual solution, which allows advertisers to match their ads to relevant content to maximize user engagement and drive campaign performance.

On May 10th, DV reported 1st Quarter March 2023 earnings of $0.07 per share on revenue of $122.6 million. The consensus earnings estimate was $0.04 per share on revenue of $118.1 million. Revenue grew 26.7% on a year-over-year basis.

The company said it expects second quarter revenue of $131.0 million to $135.0 million and 2023 revenue of $557.0 million to $569.0 million. The company's previous guidance was 2023 revenue of $550.0 million to $564.0 million. The previous revenue estimate was $132.77 million for the quarter ending June 30, 2023 and revenue of $557.33 million for the year ending December 31, 2023.

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation.

Entry Point: $32.00

Stop Loss: $30.30

Trading Range: $20.28 to 32.43

Target Price: $35.30

Position closed on 6/6/2023 at price of $35.50 with a 10.94% gain in 12 days.

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