Viant Technology (NASDAQ:DSP) Price Target Raised to $19.00

by · The Cerbat Gem

Viant Technology (NASDAQ:DSP – Free Report) had its price target increased by UBS Group from $17.00 to $19.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on DSP. Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a report on Tuesday. B. Riley Financial increased their price target on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Rosenblatt Securities raised their price target on Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citizens Jmp lifted their price objective on Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday. One 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 stock. According to MarketBeat, Viant Technology has a consensus rating of “Buy” and an average target price of $18.33.

View Our Latest Research Report on Viant Technology

Viant Technology Stock Performance

DSP opened at $12.98 on Tuesday. The firm has a market cap of $862.78 million, a price-to-earnings ratio of 41.87 and a beta of 1.08. The firm’s 50-day simple moving average is $12.05 and its 200-day simple moving average is $11.33. Viant Technology has a twelve month low of $8.11 and a twelve month high of $14.80.

Viant Technology (NASDAQ:DSP – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.24% and a return on equity of 4.38%. As a group, sell-side analysts anticipate that Viant Technology will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 27,451 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total transaction of $358,510.06. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $10.89, for a total transaction of $163,350.00. Following the sale, the insider directly owned 22,500 shares in the company, valued at $245,025. This trade represents a 40.00% decrease in their ownership of the stock. 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 three months, insiders sold 195,304 shares of company stock valued at $2,306,406. Insiders own 29.43% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Viant Technology by 2.4% during 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 during the period. JPMorgan Chase & Co. increased its position in Viant Technology by 4.3% in the second quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock worth $359,000 after purchasing an additional 1,109 shares during the period. Russell Investments Group Ltd. raised its holdings in Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after purchasing an additional 1,228 shares during the last quarter. Versant Capital Management Inc raised its holdings in Viant Technology by 202.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Viant Technology by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock valued at $332,000 after purchasing an additional 2,122 shares during the last quarter. Institutional investors own 11.38% of the company’s stock.

About Viant Technology

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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.

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