Viant Technology Inc. (NASDAQ:DSP) Given Average Recommendation of “Buy” by Brokerages

Shares of Viant Technology Inc. (NASDAQ:DSP) have earned an average rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $18.00.

Several equities analysts recently issued reports on DSP shares. Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a report on Thursday, April 16th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. DA Davidson lifted their price objective on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th.

Viant Technology Stock Down 2.5%

Shares of DSP stock opened at $11.58 on Thursday. The firm has a market cap of $758.84 million, a price-to-earnings ratio of 32.17 and a beta of 1.04. The company’s 50 day moving average is $11.22 and its 200 day moving average is $11.19. Viant Technology has a 52-week low of $8.11 and a 52-week high of $15.18.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $88.54 million for the quarter, compared to analysts’ expectations of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. Analysts anticipate that Viant Technology will post -0.18 EPS for the current fiscal year.

Insider Activity

In other Viant Technology news, major shareholder Capital V. Llc sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.79, for a total value of $80,925.00. Following the completion of the sale, the insider directly owned 37,500 shares in the company, valued at $404,625. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Max O. Valdes sold 3,386 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $11.97, for a total transaction of $40,530.42. Following the completion of the sale, the director owned 29,449 shares of the company’s stock, valued at approximately $352,504.53. This trade represents a 10.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 235,817 shares of company stock valued at $2,667,854 in the last ninety days. 29.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Viant Technology by 2.4% in the second quarter. Rhumbline Advisers now owns 45,042 shares of the company’s stock valued at $596,000 after acquiring an additional 1,056 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Viant Technology by 4.3% in the second quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock valued at $359,000 after acquiring an additional 1,109 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Viant Technology by 86.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after acquiring an additional 1,228 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Viant Technology by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock valued at $332,000 after acquiring an additional 2,122 shares in the last quarter. Finally, CWM LLC boosted its stake 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 acquiring an additional 2,267 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.