Analyst Maria Ripps from Canaccord Genuity maintained a Buy rating on Viant Technology (DSP – Research Report) and keeping the price target at $24.00.
Maria Ripps’s rating is based on Viant Technology’s strong performance in the first quarter, where the company exceeded expectations in revenue, contribution ex-TAC, and adjusted EBITDA. The growth was partly driven by continued momentum in Connected TV (CTV) and minimal impact from macroeconomic uncertainties. Viant’s strategic initiatives, such as scaling its CTV offerings and integrating AI solutions, have shown promising progress, enhancing the platform’s value proposition.
Additionally, despite some advertisers deferring their campaigns due to external factors, Viant remains optimistic about future revenue as these funds are expected to be utilized later in the year. The company’s confidence is further reflected in its expanded share buyback program and expectations for improved EBITDA margins. With its leadership in CTV, evolving product roadmap, and reasonable valuation, Viant is positioned as a resilient platform, justifying the Buy rating.
In another report released today, Rosenblatt Securities also maintained a Buy rating on the stock with a $20.00 price target.