Viant Technology (NASDAQ:DSP) Trading Up 8.8% – Should You Buy?

Viant Technology Inc. (NASDAQ:DSP) rose 8.8% on Monday . The stock traded as high as $12.90 and last traded at $12.8250. 211,929 shares were traded during trading, a decline of 12% from the average daily volume of 240,582 shares. The stock had previously closed at $11.79.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings cut Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Loop Capital set a $14.50 price objective on Viant Technology in a research note on Tuesday, March 10th. B. Riley Financial raised their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Viant Technology currently has a consensus rating of “Buy” and a consensus price target of $18.00.

Viant Technology Price Performance

The company has a market capitalization of $861.72 million, a P/E ratio of 36.36 and a beta of 1.04. The stock has a 50-day moving average price of $11.32 and a 200-day moving average price of $11.22.

Viant Technology (NASDAQ:DSP) last announced its earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. Sell-side analysts anticipate that Viant Technology Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, CFO Larry Madden sold 25,376 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.10, for a total transaction of $281,673.60. Following the completion of the sale, the chief financial officer directly owned 459,155 shares in the company, valued at $5,096,620.50. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Max O. Valdes sold 3,386 shares of Viant Technology stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.97, for a total transaction of $40,530.42. Following the transaction, the director directly owned 29,449 shares of the company’s stock, valued at $352,504.53. This represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 266,980 shares of company stock valued at $2,992,826. Company insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake 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 during the period. CWM LLC increased its holdings in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after purchasing an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Viant Technology by 620.7% in the fourth 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 in the last quarter. State of Alaska Department of Revenue acquired a new position in Viant Technology in the fourth quarter valued at approximately $64,000. Finally, BNP Paribas Financial Markets lifted its stake in Viant Technology by 433.7% in the third quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after buying an additional 6,454 shares during the period. 11.38% of the stock is currently 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.