Canaccord Genuity Lowers Viant Technology Price Target to $22.00

Canaccord Genuity has cut its price target for Viant Technology (DSP) to $22.00 from $24.00, maintaining a "Buy" rating. The average analyst price target for DSP is $20.13, with a high estimate of $26.00 and a low of $18.00. The average brokerage recommendation is 1.9, indicating "Outperform" status. The estimated GF Value for DSP in one year is $10.45, suggesting a 7.29% upside from the current price.

Canaccord Genuity has revised its price target for Viant Technology Inc. (DSP) to $22.00 from $24.00, while maintaining a "Buy" rating. This adjustment comes on the heels of the company's second-quarter 2025 earnings report, which showed mixed results.

Viant Technology reported a significant 18% year-over-year increase in revenue, driven by strong demand for connected TV (CTV) offerings and its AI product suite. The company's AI bidding, planning, and measurement capabilities have automated 85% of ad spending, making it an attractive solution for larger advertisers [1]. However, the company faced temporary disruptions due to economic policy actions, leading to a headwind of nearly 300 basis points to revenue growth. Additionally, the loss of a sizable advertiser by an agency client is expected to impact Q3 contribution ex-TAC growth by approximately 600 basis points [1].

Despite these challenges, Viant Technology's strong balance sheet, with $173 million in cash and no debt, provides financial stability. The company is also expanding its CTV direct access premium publisher program and adding major partners like LG, which should continue to drive revenue growth [1].

Analysts have noted that Viant's AI product suite, particularly AI bidding, offers significant cost savings and is attracting larger US advertisers. The company has a pipeline of $250 million in large advertiser spend, which is expected to start contributing to revenue in 2026 as existing commitments with other DSPs end [1].

However, Viant Technology faces competition from Amazon and walled gardens, which could impact its market share. The company is also experiencing challenges in transitioning to larger advertisers, requiring additional hiring and reorganization [1].

Canaccord Genuity's price target reduction follows JMP Securities' similar move, which lowered its target to $18.00 from $24.00. Both firms acknowledge the challenges Viant Technology faces but maintain a positive outlook due to the company's strong second-quarter performance and potential future growth opportunities [2].

References:
[1] https://finance.yahoo.com/news/viant-technology-inc-dsp-q2-210038593.html
[2] https://za.investing.com/news/analyst-ratings/viant-technology-stock-price-target-lowered-to-18-at-jmp-on-agency-loss-93CH-3833269