Viant Technology (NASDAQ:DSP) Sets New 1-Year High – What’s Next?

Viant Technology Inc. (NASDAQ:DSP) hit a new 52-week high on Monday . The stock traded as high as $14.80 and last traded at $14.0990, with a volume of 141623 shares changing hands. The stock had previously closed at $13.24.

Analyst Ratings Changes

A number of research firms recently issued reports on DSP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research report on Thursday, April 16th. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. DA Davidson raised their price target on 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 boosted their price target on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Viant Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.00.

Viant Technology Stock Performance

The company has a market cap of $918.08 million, a P/E ratio of 38.82 and a beta of 1.08. The business’s 50-day moving average price is $12.04 and its 200 day moving average price is $11.31.

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 net margin of 2.51% and a return on equity of 2.40%. The firm had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Equities research analysts forecast that Viant Technology Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $10.89, for a total value of $163,350.00. Following the sale, the insider owned 22,500 shares in the company, valued at $245,025. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 25,376 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $11.10, for a total value of $281,673.60. Following the completion of the sale, the chief financial officer directly owned 459,155 shares of the company’s stock, valued at approximately $5,096,620.50. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 167,853 shares of company stock worth $1,947,895. Company insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DSP. Punch & Associates Investment Management Inc. raised its stake in Viant Technology by 16.4% in the 1st 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 during the period. Tudor Investment Corp ET AL lifted its holdings in Viant Technology by 39.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 191,636 shares of the company’s stock valued at $1,654,000 after purchasing an additional 54,507 shares during the last quarter. Norwood Investment Partners LP bought a new position in Viant Technology during the fourth quarter worth $1,186,000. Royce & Associates LP boosted its position in Viant Technology by 72.3% during the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Viant Technology in the fourth quarter valued at $873,000. 11.38% of the stock is owned by institutional investors and hedge funds.

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.