Viant Technology (NASDAQ:DSP) Issues Quarterly Earnings Results

Key Points

• Viant Technology beat quarterly earnings expectations: EPS was $0.13 versus $0.05 estimated, while revenue reached $110.43 million compared with analysts’ $66.16 million forecast.
• Analysts’ consensus rating is Buy, with an average price target of $18.33; recent ratings ranged from a downgrade to Hold to upgrades and Buy recommendations.
• CFO Larry Madden sold 20,711 shares for about $272,000 under a pre-arranged Rule 10b5-1 plan, retaining 322,000 shares after the transaction.

Viant Technology (NASDAQ:DSP - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08, FiscalAI reports. Viant Technology had a net margin of 2.24% and a return on equity of 4.23%. The company had revenue of $110.43 million for the quarter, compared to analyst estimates of $66.16 million.

Viant Technology Price Performance

NASDAQ:DSP traded up $1.19 during trading hours on Monday, reaching $14.04. 366,865 shares of the company were exchanged, compared to its average volume of 293,358. The firm has a market cap of $933.31 million, a price-to-earnings ratio of 45.29 and a beta of 1.16. The stock has a 50 day simple moving average of $12.84 and a 200 day simple moving average of $11.79. Viant Technology has a 52-week low of $8.56 and a 52-week high of $14.80.

Insider Activity

In other news, CFO Larry Madden sold 20,711 shares of the company's stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $13.14, for a total transaction of $272,142.54. Following the completion of the sale, the chief financial officer directly owned 322,000 shares in the company, valued at $4,231,080. This represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 79,806 shares of company stock worth $1,020,703. 29.43% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Viant Technology from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. UBS Group upped their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Citigroup reissued a "market outperform" rating on shares of Viant Technology in a research report on Tuesday, August 11th. DA Davidson raised shares of Viant Technology to a "strong-buy" rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded Viant Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Viant Technology has a consensus rating of "Buy" and an average price target of $18.33.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides software and services for planning, buying, and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase advertising across channels such as connected television, streaming video, display, mobile, audio, and digital out-of-home media.

The company's solutions are designed to support automated, data-driven media buying, audience targeting, campaign optimization, and performance measurement.

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