11:28 AM EST, 11/10/2025 (MT Newswires) -- DoubleVerify ( DV ) profitability was a "bright spot," with the company recording Q3 margins of 35% and raising its full-year margin target to 33% from 32%, aided by continued cost discipline, Morgan Stanley said in a Monday note.

The firm also highlighted artificial intelligence and automation as drivers of sustained margin improvement.

However, with DoubleVerify ( DV ) lowering its revenue growth estimate to 14% from 15%, Morgan Stanley said the company's outlook was a "clear disappointment," and continues to expect retail softness in the near term, offset by stronger performance in consumer packaged goods and healthcare.

The brokerage lowered its revenue estimates due to continued macro uncertainty and pressure among large retailers, which weighs on EBITDA, but slightly increased its adjusted EBITDA outlook for 2025 and 2026 by 1% each, citing AI-driven cost efficiencies.

Morgan Stanley lowered its price target to $15 from $16.5 and reiterated its equal-weight rating.

Shares of DoubleVerify ( DV ) were up more than 11% in recent trading.

Price: 10.43, Change: +1.04, Percent Change: +11.08