Viant Technology Inc (DSP) Estimates Raised at Needham After Meeting with Management, 4 Reasons to Own Today

Needham & Company analyst Laura Martin reiterated a Buy rating and $62.00 price target on Viant Technology Inc (NASDAQ: DSP) after meeting with management and coming away confident in her above consensus estimates. She did lower SBC (from $27mm to $16.3mm in 3Q21 and from $89mm to $71mm for FY21), offset in part by higher D&A expense (from $2.5mm to $3.0mm in 3Q21 and from $10.1 to $11.3mm for FY21), which improve the 3Q21 EPS loss to $0.23 from $0.30.

The analyst sees 4 reasons to like the company here:

• Management has consistently over-delivered on its quarterly guidance
• New client wins - In 2Q21 DSP added 22 new clients (to 288 total clients), which drove 75% y/y fixed price rev growth in 2Q21.
• Profit Margin Expansion. 2Q21 EBITDA rose 203% y/y (on 61% y/y rev growth) to $8.3mm representing a 26% EBITDA margin, up 1,200 basis points from 14% reported in 2Q20.
• CTV (connected TV) revs grew 105% y/y and represented about 40% of DSP's net revs in 2Q21

For an analyst ratings summary and ratings history on Viant Technology Inc click here. For more ratings news on Viant Technology Inc click here.

Shares of Viant Technology Inc closed at $12.17 yesterday.

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Viant Technology Inc. (DSP) Tops Q2 EPS by 9c
• Nexxen (NEXN) PT Raised to $13 at Needham