Viant Technology (NASDAQ:DSP) Shares Up 9.3% – What’s Next?

Viant Technology Inc. (NASDAQ:DSP) shot up 9.3% during mid-day trading on Friday . The stock traded as high as $12.81 and last traded at $12.6660. 377,338 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 221,326 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson raised their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, May 12th. B. Riley Financial increased their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Thursday, April 16th. Wall Street Zen cut shares of Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.00.

Viant Technology Price Performance

The company has a market cap of $833.21 million, a price-to-earnings ratio of 35.22 and a beta of 1.00. The firm has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $11.02.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a return on equity of 2.40% and a net margin of 2.51%.The company had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. Research analysts anticipate that Viant Technology Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Viant Technology

In related news, CEO Timothy Vanderhook sold 2,796 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total transaction of $30,029.04. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 17,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $11.42, for a total transaction of $197,531.74. Following the completion of the sale, the chief financial officer owned 517,864 shares of the company’s stock, valued at $5,914,006.88. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,798 shares of company stock worth $2,181,451 in the last 90 days. Company insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP grew its stake in Viant Technology by 72.3% in the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after acquiring an additional 382,664 shares during the last quarter. Topline Capital Management LLC purchased a new position in Viant Technology during the third quarter worth $2,150,000. Invenomic Capital Management LP acquired a new position in shares of Viant Technology in the fourth quarter worth $2,748,000. Millennium Management LLC raised its holdings in shares of Viant Technology by 91.2% in the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock worth $5,177,000 after acquiring an additional 205,160 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

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.