Viant Technology (NASDAQ:DSP) Stock Price Breaks Below 200-Day Moving Average - Should You Sell?

Key Points

• Viant Technology shares fell below their 200-day moving average, trading as low as $11.57 and last at $11.59, below the $11.79 average.
• Analyst sentiment remained positive: the stock carried an average “Buy” rating and an $18.17 average price target, despite UBS cutting its target from $19 to $18.
• The company beat quarterly estimates, reporting adjusted earnings of $0.13 per share versus $0.05 expected and revenue of $110.43 million versus $66.16 million expected.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $11.79 and traded as low as $11.57. Viant Technology shares last traded at $11.59, with a volume of 314,320 shares.

Wall Street Analyst Weigh In

DSP has been the topic of a number of research reports. Citigroup reaffirmed a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th. UBS Group lowered their target price on Viant Technology from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday. Weiss Ratings raised shares of Viant Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Citizens Jmp raised their target price on shares of Viant Technology from $16.00 to $17.00 and gave the company a "market outperform" rating in a report on Tuesday, August 11th. Finally, DA Davidson assumed coverage on shares of Viant Technology in a research report on Tuesday. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Viant Technology has an average rating of "Buy" and an average price target of $18.17.

Viant Technology Stock Performance

The stock's fifty day moving average is $12.80 and its 200 day moving average is $11.79. The stock has a market cap of $770.39 million, a P/E ratio of 46.36 and a beta of 1.16.

Viant Technology (NASDAQ:DSP - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. Viant Technology had a return on equity of 1.96% and a net margin of 1.88%. The company had revenue of $110.43 million during the quarter, compared to analyst estimates of $66.16 million. Equities research analysts predict that Viant Technology Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 20,711 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total value of $272,142.54. Following the completion of the sale, the chief financial officer owned 322,000 shares of the company's stock, valued at approximately $4,231,080. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,355 shares of company stock valued at $662,193 in the last ninety days. Insiders own 29.43% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock valued at $35,000 after acquiring an additional 1,855 shares in the last quarter. State of Wyoming purchased a new stake in Viant Technology in the third quarter valued at $68,000. Meeder Asset Management Inc. acquired a new stake in Viant Technology during the first quarter worth about $97,000. Hillsdale Investment Management Inc. acquired a new position in Viant Technology in the first quarter valued at approximately $320,000. Finally, Ritholtz Wealth Management acquired a new position in Viant Technology in the third quarter valued at approximately $432,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

About Viant Technology

Viant Technology is an advertising technology company that provides a demand-side platform for planning, buying and measuring digital advertising. Its software helps advertisers and agencies run programmatic campaigns across channels including connected TV, mobile, audio and digital out-of-home. The company's platform includes tools for campaign management, audience targeting and measurement. Viant also offers identity and data capabilities designed to help advertisers reach audiences across devices and assess campaign performance.

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