Viant Technology (NASDAQ:DSP) Stock Gets Price Target Reduction from UBS Group

by · The Markets Daily

Viant Technology (NASDAQ:DSP – Free Report) had its target price lowered by UBS Group from $19.00 to $18.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the company. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a report on Tuesday, August 11th. Rosenblatt Securities lifted their target price on Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. DA Davidson started coverage on Viant Technology in a report on Tuesday. They set a “buy” rating for the company. Finally, Weiss Ratings raised Viant Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.17.

Check Out Our Latest Stock Analysis on DSP

Viant Technology Trading Down 3.3%

Shares of NASDAQ DSP opened at $11.59 on Tuesday. The firm has a 50 day moving average of $12.80 and a 200 day moving average of $11.79. The firm has a market capitalization of $770.39 million, a price-to-earnings ratio of 46.36 and a beta of 1.16. Viant Technology has a 12-month low of $8.72 and a 12-month high of $14.80.

Viant Technology (NASDAQ:DSP – Get Free Report) last announced its earnings results on Monday, November 9th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. Viant Technology had a net margin of 1.88% and a return on equity of 1.96%. The business had revenue of $110.43 million during the quarter, compared to analysts’ expectations of $66.16 million. Sell-side analysts predict that Viant Technology will post -0.59 EPS for the current year.

Insider Activity

In other news, CFO Larry Madden sold 20,711 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total value of $272,142.54. Following the completion of the sale, the chief financial officer directly owned 322,000 shares of the company’s stock, valued at $4,231,080. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,355 shares of company stock valued at $662,193 over the last three months. Corporate insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Punch & Associates Investment Management Inc. increased its stake in Viant Technology by 16.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after buying an additional 190,248 shares in the last quarter. Globeflex Capital L P bought a new stake in Viant Technology during the second quarter valued at about $1,316,000. Bank of New York Mellon Corp purchased a new position in shares of Viant Technology in the second quarter valued at about $609,000. Royce & Associates LP lifted its position in shares of Viant Technology by 29.9% in the third quarter. Royce & Associates LP now owns 1,392,004 shares of the company’s stock valued at $17,136,000 after acquiring an additional 320,781 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Viant Technology in the third quarter valued at about $68,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

(Get Free Report)

Viant Technology is an advertising technology company that provides a demand-side platform for planning, buying and measuring digital advertising. Its software helps advertisers and agencies run programmatic campaigns across channels including connected TV, mobile, audio and digital out-of-home. The company’s platform includes tools for campaign management, audience targeting and measurement. Viant also offers identity and data capabilities designed to help advertisers reach audiences across devices and assess campaign performance.

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