Viant Technology (NASDAQ:DSP) Shares Gap Down Following Analyst Downgrade

Viant Technology Inc. (NASDAQ:DSP) shares gapped down before the market opened on Tuesday after UBS Group lowered their price target on the stock from $19.00 to $18.00. The stock had previously closed at $14.04, but opened at $12.03. UBS Group currently has a buy rating on the stock. Viant Technology shares last traded at $11.37, with a volume of 206,394 shares.

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

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 20,711 shares of Viant Technology stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total transaction of $272,142.54. Following the sale, the chief financial officer directly owned 322,000 shares of the company’s stock, valued at approximately $4,231,080. The trade was a 6.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 52,355 shares of company stock valued at $662,193. Company insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Versant Capital Management Inc increased its holdings in shares of Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after buying an additional 1,855 shares in the last quarter. State of Wyoming acquired a new stake in shares of Viant Technology during the 3rd quarter valued at $68,000. Meeder Asset Management Inc. acquired a new stake in shares of Viant Technology during the 1st quarter valued at $97,000. Hillsdale Investment Management Inc. bought a new stake in Viant Technology during the 1st quarter worth $320,000. Finally, Ritholtz Wealth Management bought a new stake in Viant Technology during the 3rd quarter worth $432,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

The business has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $11.80. The firm has a market cap of $796.37 million, a price-to-earnings ratio of 47.92 and a beta of 1.16.

Viant Technology (NASDAQ:DSP) last announced its quarterly 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 return on equity of 1.96% and a net margin of 1.88%. The firm had revenue of $110.43 million for the quarter, compared to analyst estimates of $66.16 million. On average, equities analysts anticipate that Viant Technology Inc. will post -0.59 earnings per share for the current year.

Viant Technology Company Profile

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.