Viant Technology (NASDAQ:DSP) Price Target Raised to $17.50

Viant Technology (NASDAQ:DSP) had its price objective hoisted by DA Davidson from $16.50 to $17.50 in a report issued on Tuesday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on DSP. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday. Rosenblatt Securities lifted their price objective on shares of Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. B. Riley Financial increased their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Citizens Jmp raised their target price on shares of Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.33.

Viant Technology Stock Up 4.0%

Shares of NASDAQ DSP opened at $12.98 on Tuesday. The business’s 50 day moving average price is $12.05 and its two-hundred day moving average price is $11.33. The company has a market cap of $862.78 million, a PE ratio of 41.87 and a beta of 1.08. Viant Technology has a twelve month low of $8.11 and a twelve month high of $14.80.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.24% and a return on equity of 4.38%. The business had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. As a group, research analysts anticipate that Viant Technology will post -0.19 EPS for the current fiscal year.

Insider Transactions at Viant Technology

In related news, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $10.89, for a total transaction of $163,350.00. Following the completion of the sale, the insider directly owned 22,500 shares of the company’s stock, valued at approximately $245,025. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 27,451 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. This represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 195,304 shares of company stock worth $2,306,406. Company insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors and hedge funds have recently modified their holdings of DSP. Russell Investments Group Ltd. increased its position in Viant Technology by 86.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after acquiring an additional 1,228 shares during the period. CWM LLC raised its stake in Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after purchasing an additional 2,267 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Viant Technology by 202.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Viant Technology by 620.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after purchasing an additional 2,483 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $64,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.