Viant Technology Inc. (NASDAQ:DSP) Given Consensus Rating of “Buy” by Analysts

Shares of Viant Technology Inc. (NASDAQ:DSP) have been given an average recommendation of “Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.00.

A number of research firms recently weighed in on DSP. Loop Capital set a $14.50 price objective on shares of Viant Technology in a research report on Tuesday, March 10th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research report on Tuesday, March 10th. DA Davidson increased their price objective on shares of Viant Technology from $16.00 to $16.50 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 research report on Wednesday, May 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th.

Viant Technology Price Performance

Viant Technology stock opened at $11.58 on Thursday. Viant Technology has a 1-year low of $8.11 and a 1-year high of $15.18. The firm has a market capitalization of $758.84 million, a P/E ratio of 32.17 and a beta of 1.04. The company’s 50-day moving average is $11.22 and its 200 day moving average is $11.19.

Viant Technology (NASDAQ:DSP) last posted 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 firm had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. Research analysts anticipate that Viant Technology will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Max O. Valdes sold 3,386 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $11.97, for a total transaction of $40,530.42. Following the transaction, the director directly owned 29,449 shares of the company’s stock, valued at approximately $352,504.53. This trade represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Larry Madden sold 14,670 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $12.10, for a total transaction of $177,507.00. Following the transaction, the chief financial officer directly owned 484,531 shares in the company, valued at approximately $5,862,825.10. This trade represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 235,817 shares of company stock valued at $2,667,854. Company insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP increased its position in shares of Viant Technology by 81.6% during the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after acquiring an additional 28,052 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of Viant Technology by 16.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after acquiring an additional 190,248 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Viant Technology during the first quarter worth approximately $97,000. Hillsdale Investment Management Inc. purchased a new position in shares of Viant Technology during the first quarter worth approximately $320,000. Finally, Hsbc Holdings PLC increased its position in shares of Viant Technology by 8.2% during the fourth quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock worth $332,000 after acquiring an additional 2,122 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Company Profile

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.