Viant Technology (NASDAQ:DSP) Announces Earnings Results

Viant Technology (NASDAQ:DSP) issued its earnings results on Wednesday. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.13, FiscalAI reports. Viant Technology had a negative return on equity of 5.00% and a net margin of 0.57%.The business had revenue of $110.12 million during the quarter, compared to analysts’ expectations of $103.37 million.

Viant Technology Trading Up 5.6%

Shares of NASDAQ:DSP traded up $0.59 on Wednesday, reaching $11.09. The company had a trading volume of 323,738 shares, compared to its average volume of 198,549. The firm has a market capitalization of $692.35 million, a PE ratio of 100.83 and a beta of 1.05. Viant Technology has a 52-week low of $8.11 and a 52-week high of $16.25. The firm’s 50 day simple moving average is $10.98 and its 200-day simple moving average is $10.27.

Insider Buying and Selling

In related news, COO Christopher Vanderhook sold 3,279 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $9.17, for a total transaction of $30,068.43. Following the completion of the sale, the chief operating officer owned 420 shares of the company’s stock, valued at $3,851.40. This represents a 88.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Larry Madden sold 4,224 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $13.09, for a total transaction of $55,292.16. Following the completion of the sale, the chief financial officer owned 405,554 shares of the company’s stock, valued at approximately $5,308,701.86. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 155,123 shares of company stock valued at $1,729,594. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in Viant Technology by 96.2% during the 4th quarter. Wells Fargo & Company MN now owns 16,267 shares of the company’s stock worth $196,000 after acquiring an additional 7,976 shares during the period. Brooklyn Investment Group grew its stake in Viant Technology by 40,861.5% during the 3rd quarter. Brooklyn Investment Group now owns 21,300 shares of the company’s stock valued at $184,000 after purchasing an additional 21,248 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Viant Technology in the second quarter valued at about $166,000. Virtu Financial LLC purchased a new position in shares of Viant Technology in the third quarter worth about $153,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Viant Technology in the third quarter worth about $153,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DSP shares. B. Riley Financial restated a “buy” rating and set a $16.50 price target (up from $14.50) on shares of Viant Technology in a research note on Tuesday, November 11th. DA Davidson increased their target price on shares of Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Loop Capital set a $14.50 target price on shares of Viant Technology in a research report on Tuesday. Citizens Jmp reduced their price target on shares of Viant Technology from $18.00 to $16.00 and set a “market outperform” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.06.

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.