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

Viant Technology Inc. (NASDAQ:DSP) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several equities analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. DA Davidson lifted their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial boosted their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th.

Insider Buying and Selling

In related news, COO Christopher Vanderhook sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.96, for a total value of $27,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $10.96, for a total value of $82,200.00. Following the transaction, the insider directly owned 37,500 shares of the company’s stock, valued at approximately $411,000. This trade represents a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 290,202 shares of company stock valued at $3,300,047. 29.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viant Technology

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Viant Technology by 202.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after purchasing an additional 1,855 shares in the last quarter. Quantinno Capital Management LP increased its stake in Viant Technology by 81.6% during the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock valued at $699,000 after purchasing an additional 28,052 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in Viant Technology by 16.4% during 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 purchasing an additional 190,248 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Viant Technology during the first quarter valued at approximately $97,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Viant Technology during the first quarter valued at approximately $320,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

Shares of NASDAQ:DSP opened at $13.18 on Monday. The firm has a market capitalization of $863.74 million, a P/E ratio of 36.61 and a beta of 1.03. The stock has a 50 day moving average price of $11.73 and a 200-day moving average price of $11.30. Viant Technology has a 52-week low of $8.11 and a 52-week high of $15.18.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million for 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%. On average, equities analysts forecast that Viant Technology will post -0.18 EPS for the current fiscal year.

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.