DoubleVerify Holdings, Inc. (DV) experienced a significant pre-market decline of 6.82% on Friday, as the stock faced selling pressure following negative analyst sentiment.

The sharp drop comes after several major financial institutions revised their outlook on the company. JPMorgan lowered its price target on DoubleVerify to $14 from $17 while maintaining an Overweight rating on the shares. Similarly, Canaccord reduced its price target to $16 from $18 but kept a Buy rating on the stock.

Morgan Stanley analyst Matthew Cost maintained a Hold rating on DoubleVerify with a price target of $14.00. The collective downward revisions in price targets from multiple analysts appear to have contributed to the negative investor sentiment during the pre-market session.