Viant Technology (NASDAQ:DSP) Sets New 1-Year High - What's Next?

Key Points

• Viant Technology shares hit a new 52-week high, reaching $14.80 and closing activity around $14.10, up 5.8% from the prior close. The stock’s 50-day and 200-day moving averages are $12.04 and $11.31, respectively.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an $18.00 price target. Recent firms raised targets to between $16.50 and $20.00, although some ratings were downgraded to “Hold.”
• The company exceeded revenue expectations in its latest quarter but missed on earnings, reporting a $0.03 loss per share versus an expected $0.08 profit. Insiders sold nearly 168,000 shares worth about $1.95 million over the past three months.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $14.80 and last traded at $14.0990, with a volume of 141623 shares trading hands. The stock had previously closed at $13.24.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DSP. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th. Weiss Ratings upgraded Viant Technology from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday. Wall Street Zen cut Viant Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. DA Davidson boosted their target price on Viant Technology from $16.00 to $16.50 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Finally, B. Riley Financial upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, six 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 a consensus price target of $18.00.

Viant Technology Stock Up 5.8%

The company has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $11.31. The stock has a market capitalization of $918.08 million, a P/E ratio of 38.82 and a beta of 1.08.

Viant Technology (NASDAQ:DSP - Get Free Report) last announced 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 the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. As a group, equities analysts forecast that Viant Technology Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 25,376 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.10, for a total value of $281,673.60. Following the sale, the chief financial officer owned 459,155 shares in the company, valued at approximately $5,096,620.50. The trade was a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $10.89, for a total value of $163,350.00. Following the transaction, the insider directly owned 22,500 shares of the company's stock, valued at approximately $245,025. This trade 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. Over the last three months, insiders sold 167,853 shares of company stock worth $1,947,895. 29.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently made changes to their positions in DSP. Russell Investments Group Ltd. lifted its position in shares of Viant Technology by 86.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock worth $32,000 after purchasing an additional 1,228 shares in the last quarter. CWM LLC grew its position in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock valued at $34,000 after purchasing an additional 2,267 shares in the last quarter. Versant Capital Management Inc grew its position in Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock valued at $35,000 after purchasing an additional 1,855 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Viant Technology by 620.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock valued at $35,000 after buying an additional 2,483 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Viant Technology in the 4th quarter valued at $64,000. 11.38% of the stock is owned by institutional investors.

About Viant Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source