Viant Technology (NASDAQ:DSP) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Viant Technology (NASDAQ:DSPGet Rating) from a hold rating to a buy rating in a research report report published on Monday, Zacks.com reports. Zacks Investment Research currently has $7.75 price target on the stock.

According to Zacks, “Viant Technology Inc. is an advertising software company which enables marketers and their advertising agencies to plan, buy and measure their advertising. Its self-service DSP for omnichannel advertising, Adelphic(R), provides execute programmatic advertising campaigns across desktop, mobile, connected TV, linear TV, streaming audio and digital billboards. Viant Technology Inc. is based in IRVINE, Calif. “

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Viant Technology from $15.00 to $10.00 and set a buy rating on the stock in a research report on Friday, March 11th. Canaccord Genuity Group reduced their price objective on shares of Viant Technology from $22.00 to $18.00 and set a buy rating on the stock in a research report on Friday, March 11th. Finally, JMP Securities reduced their price objective on shares of Viant Technology from $18.00 to $14.00 and set a market outperform rating on the stock in a research report on Friday, March 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $17.82.

NASDAQ DSP opened at $6.64 on Monday. Viant Technology has a 12 month low of $5.60 and a 12 month high of $62.84. The stock has a market cap of $402.52 million and a price-to-earnings ratio of -9.76. The company’s 50 day moving average is $7.61 and its two-hundred day moving average is $10.04. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.06.

Viant Technology (NASDAQ:DSPGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Viant Technology had a negative net margin of 3.45% and a negative return on equity of 14.21%. During the same quarter in the previous year, the company earned $12.86 EPS. Sell-side analysts forecast that Viant Technology will post 0.22 EPS for the current year.

In other Viant Technology news, CFO Larry Madden sold 21,628 shares of Viant Technology stock in a transaction on Monday, March 14th. The shares were sold at an average price of $6.08, for a total transaction of $131,498.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in Viant Technology during the third quarter worth $28,000. Citigroup Inc. boosted its stake in shares of Viant Technology by 136.7% during the fourth quarter. Citigroup Inc. now owns 2,982 shares of the company’s stock valued at $29,000 after purchasing an additional 1,722 shares during the period. Morgan Stanley boosted its stake in shares of Viant Technology by 20,490.0% during the second quarter. Morgan Stanley now owns 10,295 shares of the company’s stock valued at $306,000 after purchasing an additional 10,245 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Viant Technology during the third quarter valued at $153,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Viant Technology during the third quarter valued at $157,000. 14.55% of the stock is owned by institutional investors.

Viant Technology Company Profile (Get Rating)

Viant Technology Inc operates as an advertising software company. It provides Adelphic, an enterprise software platform that enables marketers and their advertising agencies to plan, buy, and measure advertising across channels. The company also offers cloud-based self-service portal that provides customers with transparency and control over their advertising campaigns and underlying data infrastructure; omnichannel demand side platform for ad buyers to manage omnichannel campaigns and access metrics from each channel to inform decisions in other channels; and Data lake, a software and self-service enables customers with differentiated insights, including foot-traffic data reports, multi-touch attribution, and ROAS analytics.

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