Viant Technology (NASDAQ:DSP) Trading Up 9.3% – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP) shares were up 9.3% on Friday . The stock traded as high as $12.81 and last traded at $12.6660. Approximately 377,338 shares were traded during mid-day trading, an increase of 70% from the average daily volume of 221,326 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DSP. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. B. Riley Financial boosted their target price on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research note on Tuesday, March 10th. Finally, DA Davidson lifted their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Viant Technology has an average rating of “Buy” and a consensus price target of $18.00.

Viant Technology Trading Up 9.7%

The company’s fifty day moving average is $10.97 and its 200-day moving average is $11.02. The firm has a market capitalization of $833.21 million, a P/E ratio of 35.22 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last issued 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 2.51% and a return on equity of 2.40%. On average, equities research analysts anticipate that Viant Technology Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $11.80, for a total transaction of $177,000.00. Following the completion of the transaction, the insider directly owned 23,760 shares of the company’s stock, valued at approximately $280,368. This trade represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Larry Madden sold 18,538 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $11.85, for a total transaction of $219,675.30. Following the sale, the chief financial officer directly owned 535,161 shares in the company, valued at $6,341,657.85. This represents a 3.35% 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. Insiders have sold 195,798 shares of company stock valued at $2,181,451 over the last quarter. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors and hedge funds have recently made changes to their positions in DSP. Russell Investments Group Ltd. raised its position in shares of Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after acquiring an additional 1,228 shares during the last quarter. CWM LLC boosted its position in shares of Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after buying an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Viant Technology by 620.8% during the fourth 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. State of Alaska Department of Revenue acquired a new stake in Viant Technology in the 4th quarter valued at approximately $64,000. Finally, BNP Paribas Financial Markets raised its position in Viant Technology by 433.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after buying an additional 6,454 shares during the last quarter. Institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

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.