Viant Technology Inc. (NASDAQ:DSP) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a consensus “Buy” rating on Viant Technology, with six buy ratings, two strong-buy ratings and one sell rating. The average 12-month price target is $18.00, above the stock’s $11.42 opening price.
• Viant reported quarterly revenue of $88.54 million, exceeding estimates of $50.13 million, but posted an adjusted loss of $0.03 per share versus expectations for $0.08 in earnings.
• Insiders sold 203,688 shares worth approximately $2.37 million over the last quarter, while institutional investors and hedge funds own 11.38% of the company.

Shares of Viant Technology Inc. (NASDAQ:DSP - Get Free Report) have been given an average rating of "Buy" by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.00.

A number of analysts have weighed in on DSP shares. Weiss Ratings lowered shares of Viant Technology from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, May 13th. DA Davidson upped their price target on shares of Viant Technology from $16.00 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, May 12th. B. Riley Financial increased their price target on Viant Technology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded Viant Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th.

Insider Activity

In other news, CFO Larry Madden sold 25,376 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.10, for a total transaction of $281,673.60. Following the sale, the chief financial officer directly owned 459,155 shares in the company, valued at approximately $5,096,620.50. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Capital V. Llc sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $10.89, for a total value of $163,350.00. Following the completion of the transaction, the insider directly owned 22,500 shares of the company's stock, valued at $245,025. This represents a 40.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,688 shares of company stock valued at $2,365,103 over the last quarter. Corporate insiders own 29.43% of the company's stock.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently added to or reduced their stakes in DSP. Russell Investments Group Ltd. increased its position in Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock valued at $32,000 after acquiring an additional 1,228 shares during the period. CWM LLC raised its stake in shares of Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock valued at $34,000 after acquiring an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Viant Technology by 620.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock valued at $35,000 after acquiring an additional 2,483 shares during the last quarter. Versant Capital Management Inc lifted 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 worth $35,000 after purchasing an additional 1,855 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the fourth quarter worth $64,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Viant Technology Trading Down 0.3%

Shares of NASDAQ DSP opened at $11.42 on Friday. The company has a market cap of $748.35 million, a price-to-earnings ratio of 31.72 and a beta of 1.03. Viant Technology has a 12 month low of $8.11 and a 12 month high of $15.06. The stock has a 50-day moving average price of $11.93 and a two-hundred day moving average price of $11.29.

Viant Technology (NASDAQ:DSP - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). The company had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. On average, sell-side analysts predict that Viant Technology will post -0.18 earnings per share for the current year.

Viant Technology Company Profile

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.

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