In a report released today, Laura Martin from Needham maintained a Buy rating on Viant Technology (DSP – Research Report), with a price target of $21.00.
Laura Martin has given her Buy rating due to a combination of factors that highlight Viant Technology’s strong market position and growth potential. One of the key reasons is Viant’s status as an independent demand-side platform (DSP), which is reportedly gaining market share from competitors like The Trade Desk. This is supported by Viant’s impressive net revenue growth, which has exceeded 20% over the past six quarters, indicating a robust financial performance.
Another significant factor is the company’s strategic focus on connected TV (CTV) advertising, which now constitutes over 40% of its revenue. Additionally, Viant’s shift towards a self-service model is expanding its total addressable market by attracting small and medium-sized business advertisers. The company’s limited exposure to weaker advertising sectors such as automotive and pharmaceuticals, along with its recent acquisitions of Iris.tv and Lockr, further suggest a trajectory of accelerated revenue growth.