Viant upgraded to Buy at Canaccord after ‘strong’ Q3, strategic tuck-in deal

As previously reported, Canaccord upgraded Viant (DSP) to Buy from Hold with a price target of $18, up from $13, after the company reported “strong” Q3 results and announced the acquisition of IRIS.TV, a global CTV content data platform that facilitates precise targeting down to the individual video file in a privacy-compliant manner. This acquisition brings additional functionality that deepens Viant’s strategic moat and further bolsters an already robust CTV offering, the analyst tells investors. With CTV representing over 40% of platform spend and currently the fastest-growing major ad channel, the firm thinks Viant is “well-positioned to both grow with the industry and capture additional share,” the analyst added.