Citizens raises Viant Technology stock price target on AI growth

Citizens has increased its price target for Viant Technology Inc (NASDAQ:DSP) to $17.00 from $16.00, while maintaining a Market Outperform rating. The company's stock is currently trading at $14.09, close to its 52-week high of $14.80, following a 43% surge over the past six months. The firm highlighted Viant's strong execution against a record enterprise pipeline and expects continued market share gains through 2026 and into 2027.

Viant's autonomous AI buying platform, Outcomes, is identified as a growth catalyst as the company expands beyond traditional brand advertising and captures performance budgets. The company's differentiated data assets, such as Household ID, IRIS Content ID, and TVision, provide unique targeting, measurement, and optimization capabilities that are hard for competitors to replicate.

Strong enterprise adoption, accelerating platform spend, expanding margins, and disciplined operations bolster the positive outlook. The stock currently trades at roughly 8 times estimated 2027 EBITDA, suggesting it remains undervalued. With a PEG ratio of 0.18 and a P/E of 41, Viant's stock appears to be undervalued compared to its Fair Value.

The new $17 target is based on a 10x multiple of Viant's 2027 EBITDA of $94.4 million. Viant Technology's recent second-quarter 2026 earnings surpassed expectations, with revenue increasing by 34% to $104.3 million and adjusted EPS reaching $0.12, both well above estimates.