Viant Technology (NASDAQ:DSP) Research Coverage Started at DA Davidson

DA Davidson initiated coverage on shares of Viant Technology (NASDAQ:DSP) in a research note issued to investors on Tuesday morning,FinViz reports. The brokerage issued a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. UBS Group upped their target price on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Citizens Jmp lifted their price target on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 11th. Rosenblatt Securities lifted their price target on shares of Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Viant Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Viant Technology has an average rating of “Buy” and a consensus price target of $18.17.

Viant Technology Trading Down 3.3%

NASDAQ DSP opened at $11.59 on Tuesday. The company’s 50-day moving average price is $12.80 and its 200-day moving average price is $11.79. The stock has a market cap of $770.39 million, a PE 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) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.13 earnings per share 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 company had revenue of $110.43 million during the quarter, compared to analyst estimates of $66.16 million. As a group, sell-side analysts forecast that Viant Technology will post -0.59 earnings per share for the current year.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 20,711 shares of the stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total transaction of $272,142.54. Following the transaction, the chief financial officer directly owned 322,000 shares in the company, valued at $4,231,080. This represents a 6.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 52,355 shares of company stock worth $662,193. 29.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently modified their holdings of DSP. Norwood Investment Partners LP boosted its stake in shares of Viant Technology by 25.7% during the third quarter. Norwood Investment Partners LP now owns 421,500 shares of the company’s stock valued at $5,189,000 after purchasing an additional 86,267 shares in the last quarter. Royce & Associates LP increased its holdings in Viant Technology by 29.9% during the third quarter. Royce & Associates LP now owns 1,392,004 shares of the company’s stock valued at $17,136,000 after buying an additional 320,781 shares during the period. Ritholtz Wealth Management purchased a new position in Viant Technology during the third quarter valued at approximately $432,000. State of Wyoming purchased a new position in Viant Technology during the third quarter valued at approximately $68,000. Finally, Inspire Investing LLC bought a new position in Viant Technology in the third quarter worth approximately $643,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

About Viant Technology

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.