Viant price target lowered to $19 from $20 at Raymond James

Raymond James analyst Andrew Marok lowered the firm’s price target on Viant (DSP) to $19 from $20 and keeps a Strong Buy rating on the shares. Viant posted solid Q2 results, though Q3 guidance was short of expectations, as one of Viant’s agency customers lost a key client with Q3-heavy spend that created a 600 basis point headwind to contribution ex-TAC growth, the analyst tells investors in a research note. The firm sees a strong setup and continues to rank Viant as one of the top innovators in its adtech coverage.