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Investing.com - JMP Securities has lowered its price target on Viant Technology Inc (NASDAQ:DSP) to $18.00 from $24.00 while maintaining a Market Outperform rating. The stock, currently trading at $12, has seen a significant 54% decline over the past six months, though InvestingPro analysis suggests the company is currently undervalued.
The price target reduction follows Viant’s second-quarter 2025 results, which showed contribution ex-TAC near the midpoint of guidance and EBITDA at the high-end of guidance.
Viant’s third-quarter 2025 guidance came in below consensus expectations by approximately $3 million, with EBITDA guidance about $2 million below consensus, impacted by an agency partner losing a significant advertiser client.
JMP notes that excluding the impact of this agency change and political spend from 2024, the guidance implies underlying contribution ex-TAC growth of 20% year-over-year.
The firm highlighted ViantAI as significantly expanding the company’s addressable market by helping it move upmarket with a pipeline of $250 million in large advertiser spend, while also reaching SMB performance advertisers by lowering barriers to platform utilization.
In other recent news, Viant Technology reported strong second-quarter earnings for 2025, significantly surpassing analyst expectations with an impressive 800% earnings per share (EPS) surprise. The company’s revenue also exceeded forecasts, contributing to an immediate positive shift in after-hours trading. Despite these strong results, Viant Technology issued third-quarter guidance that was slightly below expectations. This guidance shortfall was attributed to a situation where one of Viant’s agency customers lost a key client, resulting in a notable headwind to growth. In response to these developments, Raymond (NSE:RYMD) James lowered its price target for Viant Technology to $19.00 from $20.00, while maintaining a Strong Buy rating. The firm highlighted the solid second-quarter performance but acknowledged the challenges impacting future guidance. These recent developments provide investors with insights into Viant Technology’s current financial landscape and future expectations.
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