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

Shares of Viant Technology Inc. (NASDAQ:DSP) have received a consensus rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of brokerages have recently weighed in on DSP. B. Riley Financial raised their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a research note on Thursday, April 16th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Weiss Ratings cut shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th.

Viant Technology Trading Down 3.5%

Shares of Viant Technology stock opened at $10.97 on Thursday. Viant Technology has a 12-month low of $8.11 and a 12-month high of $15.18. The stock has a market cap of $718.86 million, a PE ratio of 30.47 and a beta of 1.04. The company has a 50-day moving average of $11.22 and a two-hundred day moving average of $11.22.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share 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. On average, sell-side analysts forecast that Viant Technology will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $11.12, for a total value of $166,800.00. Following the completion of the sale, the insider directly owned 22,500 shares of the company’s stock, valued at approximately $250,200. The trade was a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 25,376 shares of Viant Technology stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 459,155 shares of the company’s stock, valued at $5,096,620.50. The trade was a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 236,980 shares of company stock valued at $2,659,826. Corporate insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Several hedge funds and other institutional investors have recently bought and sold shares of DSP. Russell Investments Group Ltd. grew its stake in Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after acquiring an additional 1,228 shares during the period. CWM LLC grew its stake in Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after acquiring an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Viant Technology by 620.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after acquiring an additional 2,483 shares during the period. State of Alaska Department of Revenue purchased a new stake in Viant Technology in the 4th quarter worth approximately $64,000. Finally, BNP Paribas Financial Markets grew its stake in Viant Technology by 433.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after acquiring an additional 6,454 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.