B. Riley Financial Forecasts Strong Price Appreciation for Viant Technology (NASDAQ:DSP) Stock

Viant Technology (NASDAQ:DSP) had its price objective lifted by research analysts at B. Riley Financial from $17.00 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential upside of 64.19% from the company’s current price.

Several other brokerages have also issued reports on DSP. Loop Capital set a $14.50 target price on shares of Viant Technology in a research report on Tuesday, March 10th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. DA Davidson lifted their price target on shares of Viant Technology from $15.50 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Viant Technology in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $17.93.

Viant Technology Trading Up 3.5%

Shares of DSP stock traded up $0.37 during trading hours on Tuesday, reaching $10.96. The stock had a trading volume of 200,678 shares, compared to its average volume of 211,450. The stock’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $10.83. Viant Technology has a 12 month low of $8.11 and a 12 month high of $16.25. The firm has a market capitalization of $694.54 million, a PE ratio of 34.44 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.43% and a return on equity of 1.31%. The firm had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. As a group, equities research analysts anticipate that Viant Technology will post -0.12 EPS for the current fiscal year.

Insider Activity at Viant Technology

In other news, CEO Timothy Vanderhook sold 2,796 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $10.74, for a total transaction of $30,029.04. The sale was disclosed in a legal filing 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 12,782 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $10.16, for a total transaction of $129,865.12. Following the completion of the transaction, the chief financial officer owned 553,699 shares in the company, valued at approximately $5,625,581.84. The trade was a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 178,283 shares of company stock worth $1,883,485 over the last quarter. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in Viant Technology in the third quarter worth $31,000. Russell Investments Group Ltd. increased its stake in Viant Technology by 86.9% in the fourth 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 period. CWM LLC increased its stake in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after purchasing an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Viant Technology by 620.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after purchasing an additional 2,483 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Viant Technology in the fourth quarter worth $64,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.