Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP) shares saw an uptick in trading volume on Monday . 634,934 shares were traded during mid-day trading, an increase of 176% from the previous session’s volume of 230,302 shares.The stock last traded at $11.2950 and had previously closed at $11.10.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DSP shares. B. Riley Financial boosted their target price on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, DA Davidson raised their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.00.

Viant Technology Price Performance

The firm has a market capitalization of $718.86 million, a PE ratio of 30.47 and a beta of 1.04. The stock has a 50-day moving average price of $11.22 and a 200-day moving average price of $11.22.

Viant Technology (NASDAQ:DSP) last announced its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a return on equity of 2.40% and a net margin of 2.51%.The business had revenue of $88.54 million for the quarter, compared to analysts’ expectations of $50.13 million. As a group, equities research analysts predict that Viant Technology Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 25,376 shares of Viant Technology stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.10, for a total transaction of $281,673.60. Following the sale, the chief financial officer directly owned 459,155 shares of the company’s stock, valued at approximately $5,096,620.50. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher Vanderhook sold 9,125 shares of Viant Technology stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.10, for a total value of $101,287.50. Following the completion of the transaction, the chief operating officer owned 208,880 shares of the company’s stock, valued at $2,318,568. This trade represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 248,660 shares of company stock valued at $2,793,211 in the last three months. 29.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently bought and sold shares of DSP. Royal Bank of Canada grew its stake in Viant Technology by 246.4% in the first quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock worth $363,000 after purchasing an additional 20,779 shares in the last quarter. AQR Capital Management LLC grew its stake in Viant Technology by 303.6% in the first quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock worth $587,000 after purchasing an additional 35,578 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Viant Technology by 77.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock worth $1,691,000 after purchasing an additional 59,323 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Viant Technology in the second quarter worth about $166,000. Finally, Geode Capital Management LLC grew its stake in Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after purchasing an additional 22,857 shares in the last quarter. 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.