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

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

DSP has been the topic of a number of research analyst reports. Weiss Ratings downgraded Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. B. Riley Financial raised 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 downgraded Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. DA Davidson increased their price target 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. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 2,814 shares of Viant Technology stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $10.69, for a total transaction of $30,081.66. Following the completion of the sale, the chief financial officer owned 425,822 shares of the company’s stock, valued at $4,552,037.18. This trade represents a 0.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Christopher Vanderhook sold 2,500 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $10.96, for a total transaction of $27,400.00. 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. Insiders sold a total of 185,150 shares of company stock worth $2,145,427 in the last quarter. 29.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSP. Royce & Associates LP increased its holdings in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after acquiring an additional 382,664 shares during the last quarter. Invenomic Capital Management LP bought a new stake in Viant Technology during the fourth quarter worth approximately $2,748,000. Millennium Management LLC boosted its position in Viant Technology by 91.2% during the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock worth $5,177,000 after purchasing an additional 205,160 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in 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 valued at $15,088,000 after purchasing an additional 190,248 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in shares of Viant Technology in the second quarter valued at approximately $1,323,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Price Performance

Shares of DSP opened at $12.32 on Friday. The company has a 50-day moving average of $12.03 and a two-hundred day moving average of $11.31. The stock has a market cap of $807.33 million, a price-to-earnings ratio of 34.22 and a beta of 1.08. Viant Technology has a one year low of $8.11 and a one year high of $14.16.

Viant Technology (NASDAQ:DSP) last issued 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 firm had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. Analysts anticipate that Viant Technology will post -0.19 earnings per share for the current year.

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.