Viant Technology (NASDAQ:DSP) Stock Price Down 4.4%

Shares of Viant Technology Inc. (NASDAQ:DSP - Get Free Report) fell 4.4% during mid-day trading on Tuesday . The stock traded as low as $9.79 and last traded at $9.84. 65,337 shares changed hands during trading, a decline of 46% from the average session volume of 120,126 shares. The stock had previously closed at $10.29.

Analysts Set New Price Targets

Several research firms recently issued reports on DSP. Needham & Company LLC upped their price target on Viant Technology from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. Canaccord Genuity Group raised their target price on Viant Technology from $8.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, March 5th. Raymond James raised their target price on 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 raised their target price on Viant Technology from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Finally, Craig Hallum raised their target price on Viant Technology from $8.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Viant Technology Price Performance

The company has a market capitalization of $627.67 million, a price-to-earnings ratio of -43.43 and a beta of 0.63. The business has a fifty day moving average price of $9.52 and a 200 day moving average price of $7.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DSP. Advisor Group Holdings Inc. grew its holdings in Viant Technology by 252.5% during the first quarter. Advisor Group Holdings Inc. now owns 2,524 shares of the company's stock worth $36,000 after acquiring an additional 1,808 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Viant Technology by 72.8% in the 1st quarter. JPMorgan Chase & Co. now owns 122,417 shares of the company's stock valued at $803,000 after purchasing an additional 51,594 shares during the period. Raymond James & Associates boosted its position in shares of Viant Technology by 29.9% in the 1st quarter. Raymond James & Associates now owns 19,473 shares of the company's stock valued at $128,000 after purchasing an additional 4,481 shares during the period. BlackRock Inc. boosted its position in shares of Viant Technology by 0.6% in the 1st quarter. BlackRock Inc. now owns 787,740 shares of the company's stock valued at $5,159,000 after purchasing an additional 4,741 shares during the period. Finally, Ergoteles LLC acquired a new position in shares of Viant Technology in the 1st quarter valued at $92,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

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.