Viant Technology (NASDAQ:DSP) Price Target Raised to $18.00

Viant Technology (NASDAQ:DSP) had its price objective boosted by analysts at B. Riley Financial from $17.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target would suggest a potential upside of 64.19% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Freedom Capital upgraded Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Loop Capital set a $14.50 price objective on Viant Technology in a report on Tuesday, March 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, January 21st. DA Davidson raised their price objective on Viant Technology from $15.50 to $16.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $17.93.

Viant Technology Price Performance

Viant Technology stock traded up $0.37 during trading hours on Tuesday, hitting $10.96. 200,678 shares of the stock traded hands, compared to its average volume of 211,450. The firm’s 50 day moving average price is $10.96 and its 200-day moving average price is $10.83. The stock has a market capitalization of $694.54 million, a price-to-earnings ratio of 34.44 and a beta of 1.00. Viant Technology has a 1 year low of $8.11 and a 1 year high of $16.25.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million for the quarter, compared to analysts’ expectations of $50.13 million. Viant Technology had a net margin of 2.43% and a return on equity of 1.31%. Research analysts forecast that Viant Technology will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Viant Technology

In related news, CEO Timothy Vanderhook sold 2,796 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $10.74, for a total value of $30,029.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 12,782 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $10.16, for a total transaction of $129,865.12. Following the completion of the sale, the chief financial officer directly owned 553,699 shares in the company, valued at approximately $5,625,581.84. The trade was a 2.26% 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 have sold a total of 178,283 shares of company stock valued at $1,883,485 over the last quarter. 29.40% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 1,228 shares during the last quarter. CWM LLC lifted its position in shares of Viant Technology by 431.0% during the 4th 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 period. Caitong International Asset Management Co. Ltd lifted its position in shares of Viant Technology by 620.8% during the 4th 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 period. Farther Finance Advisors LLC acquired a new position in shares of Viant Technology during the 3rd quarter valued at $31,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the 4th quarter valued at $64,000. 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.