Analysts Set Viant Technology Inc. (NASDAQ:DSP) PT at $18.50

Shares of Viant Technology Inc. (NASDAQ:DSP) have been assigned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.50.

DSP has been the subject of several analyst reports. Wall Street Zen cut shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Citigroup reiterated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, November 11th. B. Riley reissued a “buy” rating and set a $16.50 price target (up previously from $14.50) on shares of Viant Technology in a report on Tuesday, November 11th. Citizens Jmp reduced their price objective on Viant Technology from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 11th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Viant Technology in a research note on Tuesday, November 11th.

Insider Buying and Selling

In related news, COO Christopher Vanderhook sold 9,102 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $11.70, for a total value of $106,493.40. Following the completion of the transaction, the chief operating officer owned 347,182 shares of the company’s stock, valued at $4,062,029.40. This represents a 2.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Capital V. Llc sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $11.74, for a total transaction of $176,100.00. Following the sale, the insider directly owned 22,500 shares in the company, valued at approximately $264,150. The trade was a 40.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,579 shares of company stock worth $616,874 in the last three months. 29.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Viant Technology by 246.4% in the first quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock valued at $363,000 after purchasing an additional 20,779 shares during the last quarter. AQR Capital Management LLC raised its holdings in Viant Technology by 303.6% in the 1st quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock valued at $587,000 after buying an additional 35,578 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Viant Technology by 77.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock valued at $1,691,000 after buying an additional 59,323 shares during the last quarter. Strs Ohio acquired a new stake in Viant Technology during the 1st quarter worth approximately $506,000. Finally, Rhumbline Advisers grew its holdings in Viant Technology by 2.8% during the 1st quarter. Rhumbline Advisers now owns 43,986 shares of the company’s stock worth $546,000 after acquiring an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Stock Performance

NASDAQ:DSP opened at $11.61 on Monday. The company has a market cap of $724.81 million, a price-to-earnings ratio of 105.56 and a beta of 1.03. Viant Technology has a fifty-two week low of $8.11 and a fifty-two week high of $26.33. The stock has a fifty day moving average price of $11.08 and a 200-day moving average price of $10.81.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Viant Technology had a negative return on equity of 5.00% and a net margin of 0.57%.The company had revenue of $85.58 million during the quarter, compared to the consensus estimate of $85.54 million. Research analysts predict that Viant Technology will post -0.39 EPS for the current fiscal year.

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.