Viant Technology (NASDAQ:DSP) Shares Gap Down to $11.00

Shares of Viant Technology Inc. (NASDAQ:DSP - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $11.00, but opened at $10.27. Viant Technology shares last traded at $10.21, with a volume of 140,250 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on DSP shares. Needham & Company LLC boosted their price target on shares of Viant Technology from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Raymond James boosted their price target on shares of Viant Technology from $7.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, January 24th. UBS Group upped their target price on shares of Viant Technology from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Canaccord Genuity Group upped their target price on shares of Viant Technology from $8.00 to $10.00 and gave the stock a "hold" rating in a research note on Tuesday, March 5th. Finally, Craig Hallum upped their target price on shares of Viant Technology from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Viant Technology presently has an average rating of "Moderate Buy" and a consensus target price of $10.83.

Viant Technology Stock Performance

The stock has a market cap of $646.52 million, a P/E ratio of -45.35 and a beta of 0.63. The company's 50 day moving average price is $9.47 and its 200-day moving average price is $7.38.

Viant Technology (NASDAQ:DSP - Get Free Report) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $42.10 million. Viant Technology had a negative net margin of 1.54% and a negative return on equity of 5.84%. On average, analysts forecast that Viant Technology Inc. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently added to or reduced their stakes in DSP. EAM Investors LLC purchased a new stake in Viant Technology during the third quarter valued at about $1,354,000. Renaissance Technologies LLC lifted its holdings in Viant Technology by 110.3% during the first quarter. Renaissance Technologies LLC now owns 222,692 shares of the company's stock valued at $1,459,000 after purchasing an additional 116,792 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Viant Technology by 90.6% during the second quarter. JPMorgan Chase & Co. now owns 233,384 shares of the company's stock valued at $1,186,000 after purchasing an additional 110,967 shares during the last quarter. BlackRock Inc. lifted its holdings in Viant Technology by 11.9% during the second quarter. BlackRock Inc. now owns 896,908 shares of the company's stock valued at $4,135,000 after purchasing an additional 95,651 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in Viant Technology by 509.4% during the third quarter. Quadrature Capital Ltd now owns 88,019 shares of the company's stock valued at $491,000 after purchasing an additional 73,576 shares during the last quarter. Institutional investors own 11.38% of the company's stock.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.