Viant Technology (NASDAQ:DSP) Shares Gap Up to $8.79

Viant Technology Inc. (NASDAQ:DSP)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.79, but opened at $9.66. Viant Technology shares last traded at $8.82, with a volume of 88,861 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Craig Hallum upped their price objective on shares of Viant Technology from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Raymond James raised their price target on Viant Technology from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a research note on Wednesday. Canaccord Genuity Group raised their target price on shares of Viant Technology from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, March 5th. Finally, UBS Group upped their price target on shares of Viant Technology from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Viant Technology currently has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Viant Technology Stock Performance

The company has a market capitalization of $512.68 million, a PE ratio of -35.43 and a beta of 0.63. The firm’s 50-day simple moving average is $9.59 and its 200 day simple moving average is $7.80.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $42.10 million. Viant Technology had a negative return on equity of 5.84% and a negative net margin of 1.54%. As a group, equities analysts anticipate that Viant Technology Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Viant Technology

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of Viant Technology by 357.3% in the third quarter. Barclays PLC now owns 19,801 shares of the company’s stock valued at $111,000 after purchasing an additional 15,471 shares during the period. Jump Financial LLC acquired a new stake in Viant Technology in the 3rd quarter worth about $69,000. Bailard Inc. purchased a new stake in Viant Technology in the 4th quarter valued at about $260,000. Potomac Capital Management Inc. increased its stake in shares of Viant Technology by 12.4% during the 3rd quarter. Potomac Capital Management Inc. now owns 302,648 shares of the company’s stock valued at $1,695,000 after acquiring an additional 33,486 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Viant Technology during the 3rd quarter worth about $1,354,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.