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

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

A number of research firms have recently issued reports on DSP. Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. DA Davidson increased their price objective on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. B. Riley Financial increased their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Freedom Capital upgraded shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a research note on Thursday, April 16th.

Viant Technology Stock Performance

NASDAQ DSP opened at $11.19 on Friday. The firm’s 50 day moving average price is $11.04 and its 200-day moving average price is $10.94. Viant Technology has a 52-week low of $8.11 and a 52-week high of $15.18. The company has a market cap of $733.33 million, a PE ratio of 31.08 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The business had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. On average, analysts forecast that Viant Technology will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other Viant Technology news, COO Christopher Vanderhook sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.79, for a total value of $26,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Vanderhook sold 2,796 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $10.74, for a total transaction of $30,029.04. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,798 shares of company stock valued at $2,181,451 in the last ninety days. 29.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in Viant Technology by 81.6% in the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock valued at $699,000 after acquiring an additional 28,052 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Viant Technology by 16.4% in 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 acquiring an additional 190,248 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Viant Technology in the first quarter valued at approximately $97,000. Hillsdale Investment Management Inc. acquired a new stake in Viant Technology in the first quarter valued at approximately $320,000. Finally, Hsbc Holdings PLC boosted its stake in Viant Technology by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock valued at $332,000 after acquiring an additional 2,122 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.