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

Viant Technology Inc. (NASDAQ:DSP) has received a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.50.

A number of research analysts recently issued reports on DSP shares. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Tuesday, November 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, November 11th. DA Davidson lifted their price target on shares of Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, B. Riley Financial reiterated a “buy” rating and set a $16.50 price objective (up previously from $14.50) on shares of Viant Technology in a research report on Tuesday, November 11th.

Insider Buying and Selling

In other Viant Technology news, CEO Timothy Vanderhook sold 2,574 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $12.87, for a total transaction of $33,127.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Capital V. Llc sold 7,722 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $12.87, for a total transaction of $99,382.14. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 106,803 shares of company stock valued at $1,284,653. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSP. Punch & Associates Investment Management Inc. raised its stake in Viant Technology by 3.8% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,199,490 shares of the company’s stock valued at $10,352,000 after purchasing an additional 44,357 shares during the period. Royce & Associates LP grew its holdings in shares of Viant Technology by 72.3% during the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after buying an additional 382,664 shares in the last quarter. Granite Investment Partners LLC acquired a new position in Viant Technology during the second quarter valued at $7,239,000. Renaissance Technologies LLC lifted its stake in Viant Technology by 2.6% in the 4th quarter. Renaissance Technologies LLC now owns 493,800 shares of the company’s stock worth $5,945,000 after acquiring an additional 12,683 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Viant Technology by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after acquiring an additional 22,857 shares in the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Price Performance

Shares of NASDAQ:DSP opened at $9.63 on Friday. The stock has a market cap of $601.20 million, a price-to-earnings ratio of 87.55 and a beta of 1.03. Viant Technology has a 12 month low of $8.11 and a 12 month high of $26.30. The stock’s 50 day moving average price is $11.71 and its 200 day moving average price is $10.54.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $85.58 million for the quarter, compared to analyst estimates of $85.54 million. Viant Technology had a net margin of 0.57% and a negative return on equity of 5.00%. On average, sell-side analysts expect that Viant Technology will post -0.39 EPS 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.