Viant Technology Inc. (NASDAQ:DSP) Receives $18.50 Consensus Price Target from Analysts

Viant Technology Inc. (NASDAQ:DSP) has been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $18.50.

A number of brokerages have recently weighed in on DSP. Citizens Jmp dropped their price target on Viant Technology from $18.00 to $16.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, January 21st. DA Davidson upped their price target on shares of Viant Technology from $15.00 to $15.50 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th.

Viant Technology Trading Up 1.8%

DSP stock opened at $10.35 on Friday. The firm has a 50 day moving average of $11.80 and a 200-day moving average of $10.61. The company has a market cap of $646.15 million, a price-to-earnings ratio of 94.10 and a beta of 1.03. Viant Technology has a 12-month low of $8.11 and a 12-month high of $26.33.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $85.58 million during the quarter, compared to analysts’ expectations of $85.54 million. Viant Technology had a net margin of 0.57% and a negative return on equity of 5.00%. Sell-side analysts forecast that Viant Technology will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 4,224 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $13.09, for a total transaction of $55,292.16. Following the completion of the transaction, the chief financial officer owned 405,554 shares of the company’s stock, valued at approximately $5,308,701.86. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy Vanderhook sold 2,574 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.87, for a total value of $33,127.38. The SEC filing for this sale provides additional information. Insiders sold a total of 106,803 shares of company stock worth $1,284,653 in the last quarter. Corporate insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in Viant Technology in the 3rd quarter valued at about $31,000. CWM LLC lifted its holdings in shares of Viant Technology by 431.0% during the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after acquiring an additional 2,267 shares during the period. AlphaQuest LLC boosted its position in shares of Viant Technology by 287.6% in the second quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after acquiring an additional 3,443 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Viant Technology in the fourth quarter worth approximately $64,000. Finally, BNP Paribas Financial Markets increased its position in Viant Technology by 433.7% during the third quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after purchasing an additional 6,454 shares during the last quarter. 11.38% of the stock is currently owned by hedge funds and other 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.