Is Viant Technology, Inc. overvalued or undervalued?

As of 13 February 2025, the valuation grade for Viant Technology, Inc. has moved from very attractive to fair. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 65, an EV to EBITDA of 33.14, and a PEG ratio of 0.13, which suggests that despite the high P/E, growth expectations may not justify the valuation.
In comparison to peers, Viant's P/E ratio of 57.15 is significantly higher than that of Spire Global, Inc., which has a P/E of -3.74, indicating that Viant is trading at a premium despite its fair valuation grade. AdTheorent Holding Co., Inc. shows a much higher P/E of 243.83, but it is classified as risky, highlighting the volatility in this sector. Notably, Viant's recent stock performance has outpaced the S&P 500 over the past year, with a return of 41.39% compared to the S&P's 10.26%, but this does not necessarily reflect its current valuation status.