Viant Technology (NASDAQ:DSP) Shares Gap Up After Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP) gapped up prior to trading on Tuesday after DA Davidson raised their price target on the stock from $16.00 to $16.50. The stock had previously closed at $10.59, but opened at $11.98. DA Davidson currently has a buy rating on the stock. Viant Technology shares last traded at $10.98, with a volume of 103,065 shares.

A number of other equities analysts have also weighed in on DSP. 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. Loop Capital set a $14.50 target price on Viant Technology in a report on Tuesday, March 10th. Wall Street Zen upgraded Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Freedom Capital raised Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $18.00.

Insider Buying and Selling

In related news, major shareholder Capital V. Llc sold 8,389 shares of Viant Technology stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total value of $90,097.86. Following the completion of the sale, the insider owned 37,500 shares of the company’s stock, valued at $402,750. The trade was a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $11.42, for a total value of $197,531.74. Following the sale, the chief financial officer owned 517,864 shares of the company’s stock, valued at approximately $5,914,006.88. This trade represents a 3.23% 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 quarter, insiders have sold 214,118 shares of company stock worth $2,300,692. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Viant Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP lifted its stake in shares of Viant Technology by 72.3% in the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares during the period. Topline Capital Management LLC purchased a new stake in Viant Technology during the third quarter valued at approximately $2,150,000. Invenomic Capital Management LP bought a new position in Viant Technology in the fourth quarter worth approximately $2,748,000. Millennium Management LLC boosted its stake in shares of Viant Technology by 91.2% during the 4th 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, Manatuck Hill Partners LLC bought a new stake in shares of Viant Technology during the 2nd quarter valued at $1,323,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

The company has a market capitalization of $661.37 million, a P/E ratio of 29.00 and a beta of 1.00. The stock has a fifty day moving average of $10.98 and a 200 day moving average of $10.85.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $50.13 million. Research analysts anticipate that Viant Technology Inc. will post -0.12 EPS for the current fiscal 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.