Viant Technology (NASDAQ:DSP) Shares Gap Up – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.10, but opened at $12.74. Viant Technology shares last traded at $12.23, with a volume of 9,825 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on DSP shares. DA Davidson lifted their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. B. Riley Financial boosted their price objective on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Freedom Capital raised Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Viant Technology presently has an average rating of “Buy” and a consensus price target of $18.00.

Viant Technology Trading Down 4.0%

The firm has a market capitalization of $800.24 million, a price-to-earnings ratio of 34.06 and a beta of 1.04. The stock has a fifty day moving average of $11.13 and a 200-day moving average of $11.12.

Viant Technology (NASDAQ:DSP) last issued its earnings results 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 return on equity of 2.40% and a net margin of 2.51%.The company had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. As a group, equities research analysts forecast that Viant Technology Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Viant Technology

In related news, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total value of $177,000.00. Following the completion of the sale, the insider owned 23,760 shares of the company’s stock, valued at approximately $280,368. The trade was a 38.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Larry Madden sold 18,538 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $11.85, for a total value of $219,675.30. Following the sale, the chief financial officer owned 535,161 shares of the company’s stock, valued at approximately $6,341,657.85. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,798 shares of company stock worth $2,181,451 in the last 90 days. Corporate insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after acquiring an additional 1,228 shares in the last quarter. CWM LLC raised its holdings in Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after acquiring an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Viant Technology by 620.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after acquiring an additional 2,483 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Viant Technology in the 4th quarter valued at approximately $64,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Viant Technology by 433.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after buying an additional 6,454 shares in the last quarter. Institutional investors own 11.38% of the company’s stock.

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.