Viant Technology (NASDAQ:DSP) Price Target Raised to $16.50

Viant Technology (NASDAQ:DSP) had its target price increased by stock analysts at DA Davidson from $16.00 to $16.50 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 45.95% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Freedom Capital raised Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research report on Tuesday, March 10th. B. Riley Financial increased their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Two investment analysts have 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 MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.00.

Viant Technology Trading Up 6.8%

Shares of Viant Technology stock traded up $0.72 during midday trading on Tuesday, reaching $11.31. The company had a trading volume of 244,933 shares, compared to its average volume of 211,964. The stock has a fifty day simple moving average of $10.96 and a 200 day simple moving average of $10.83. Viant Technology has a 1-year low of $8.11 and a 1-year high of $16.25. The company has a market capitalization of $716.21 million, a price-to-earnings ratio of 35.33 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings data 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 analyst estimates of $50.13 million. Viant Technology had a return on equity of 1.31% and a net margin of 2.43%. Sell-side analysts expect that Viant Technology will post -0.12 earnings per share for the current year.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 12,782 shares of Viant Technology stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $10.16, for a total value of $129,865.12. Following the transaction, the chief financial officer owned 553,699 shares of the company’s stock, valued at approximately $5,625,581.84. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 8,389 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $10.74, for a total transaction of $90,097.86. Following the completion of the transaction, the insider owned 37,500 shares of the company’s stock, valued at $402,750. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,283 shares of company stock worth $1,883,485 in the last quarter. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position 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 acquiring an additional 1,228 shares during the last quarter. CWM LLC increased its stake in Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after buying an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Viant Technology by 620.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after buying an additional 2,483 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Viant Technology during the 3rd quarter worth about $31,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the 4th quarter worth about $64,000. 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.