Viant Technology (NASDAQ:DSP) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Viant Technology (NASDAQ:DSP) in a report issued on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $12.00 price objective on the stock.

Several other brokerages have also commented on DSP. Raymond James lifted their target price on Viant Technology from $7.00 to $10.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. Canaccord Genuity Group lifted their price objective on shares of Viant Technology from $8.00 to $10.00 and gave the stock a hold rating in a report on Tuesday, March 5th. Craig Hallum increased their target price on shares of Viant Technology from $8.00 to $14.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Finally, UBS Group raised their price target on shares of Viant Technology from $8.00 to $12.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Viant Technology currently has a consensus rating of Moderate Buy and an average target price of $10.83.

Viant Technology Price Performance

NASDAQ DSP opened at $8.40 on Wednesday. The company has a market capitalization of $527.77 million, a price-to-earnings ratio of -70.00 and a beta of 0.69. Viant Technology has a 12 month low of $3.81 and a 12 month high of $11.63. The company’s fifty day moving average price is $9.59 and its two-hundred day moving average price is $7.83.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $42.10 million. Viant Technology had a negative return on equity of 6.41% and a negative net margin of 0.81%. As a group, analysts anticipate that Viant Technology will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Viant Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new stake in shares of Viant Technology during the third quarter valued at approximately $69,000. Allspring Global Investments Holdings LLC grew its stake in shares of Viant Technology by 185.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,108 shares of the company’s stock worth $101,000 after purchasing an additional 11,768 shares in the last quarter. Barclays PLC increased its holdings in shares of Viant Technology by 357.3% during the third quarter. Barclays PLC now owns 19,801 shares of the company’s stock valued at $111,000 after purchasing an additional 15,471 shares during the period. Bailard Inc. bought a new stake in shares of Viant Technology during the fourth quarter valued at about $260,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Viant Technology by 9.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 73,218 shares of the company’s stock worth $410,000 after purchasing an additional 6,232 shares during the period. 11.38% of the stock is currently owned by institutional investors.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.