Raymond James Starts Viant Technology Inc (DSP) at Market Perform

March 8, 2021 6:54 AM EST
Get Alerts DSP Hot Sheet
Price: $41.90 --0%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 22
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Raymond James analyst Aaron Kessler initiates coverage on Viant Technology Inc (NASDAQ: DSP) with a Market Perform rating.

The analyst comments "From a fundamental perspective, we believe there are many positives to Viant’s outlook, including: 1) an attractive market backdrop in programmatic advertising driven by strength in mobile and video; 2) unique positioning for Viant leveraging “people-based” user targeting that doesn’t rely on 3P cookies; 3) solid positioning in high-growth sectors of programmatic advertising such as connected TV (CTV), which comprised about a third of total revenue generated on the platform (growing 75% y/y) in the first nine months of 2020; and 4) our expectations for ~20% long-term revenue growth and 35%+ long-term EBITDA margins. While our fundamental outlook remains positive, we believe risk/reward is balanced at its recent valuation levels, approaching 21x 2022E EV/gross profits, which marks a premium to the peer group. We assign a High Risk/Growth suitability rating based on the AdTech industry’s rapidly changing dynamics."

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 $41.32 yesterday.



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Raymond James, Aaron Kessler