Viant Technology (NASDAQ:DSP) Shares Gap Up – Here’s Why

Viant Technology Inc. (NASDAQ:DSP) gapped up before the market opened on Tuesday . The stock had previously closed at $10.59, but opened at $11.98. Viant Technology shares last traded at $10.98, with a volume of 103,065 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DSP shares. Wall Street Zen raised shares of Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. DA Davidson lifted their price objective on Viant Technology from $15.50 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, January 21st. Finally, B. Riley Financial restated a “buy” rating and issued a $17.00 target price (up from $16.50) on shares of Viant Technology in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.79.

Viant Technology Stock Up 3.0%

The firm has a 50-day moving average of $10.96 and a two-hundred day moving average of $10.83. The company has a market capitalization of $691.18 million, a PE ratio of 34.08 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.43% and a return on equity of 1.31%. The company had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. On average, equities research analysts expect that Viant Technology Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.80, for a total value of $177,000.00. Following the sale, the insider owned 23,760 shares of the company’s stock, valued at $280,368. This trade represents a 38.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Larry Madden sold 13,283 shares of Viant Technology stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.91, for a total value of $144,917.53. Following the completion of the transaction, the chief financial officer owned 579,744 shares of the company’s stock, valued at $6,325,007.04. The trade was a 2.24% 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. In the last 90 days, insiders sold 178,283 shares of company stock valued at $1,883,485. Insiders own 29.40% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new position in Viant Technology during the 3rd quarter worth approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of 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 purchasing an additional 1,228 shares in the last quarter. CWM LLC lifted its position in shares of Viant Technology by 431.0% during the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after purchasing an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Viant Technology by 620.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after purchasing an additional 2,483 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the fourth quarter worth $64,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

About Viant Technology

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.