Viant Technology Inc. (NASDAQ:DSP) Receives Average Rating of “Buy” from Brokerages

Viant Technology Inc. (NASDAQ:DSP) has been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.00.

Several equities research analysts have recently commented on DSP shares. Loop Capital set a $14.50 target price on Viant Technology in a research note on Tuesday, March 10th. B. Riley Financial lifted their price objective on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Finally, Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th.

Viant Technology Stock Performance

DSP opened at $12.96 on Monday. Viant Technology has a 1-year low of $8.11 and a 1-year high of $15.18. The stock has a market capitalization of $849.27 million, a PE ratio of 36.00 and a beta of 1.03. The firm has a 50-day moving average price of $11.49 and a two-hundred day moving average price of $11.26.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The company had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. On average, research analysts predict that Viant Technology will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 25,376 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.10, for a total transaction of $281,673.60. Following the completion of the sale, the chief financial officer owned 459,155 shares in the company, valued at approximately $5,096,620.50. The trade was a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Capital V. Llc sold 15,000 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $11.12, for a total value of $166,800.00. Following the completion of the transaction, the insider owned 22,500 shares in the company, valued at $250,200. This represents a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 259,683 shares of company stock worth $2,910,296. Insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently modified their holdings of DSP. Russell Investments Group Ltd. increased its stake in shares of Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after acquiring an additional 1,228 shares during the last quarter. Versant Capital Management Inc increased its stake in Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares in the last quarter. CWM LLC increased its stake in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after purchasing an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Viant Technology by 620.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after purchasing an additional 2,483 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology in the 4th quarter valued at $64,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

About Viant Technology

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.