Viant Technology (NASDAQ:DSP) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Viant Technology (NASDAQ:DSPGet Rating) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

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. “

A number of other analysts have also weighed in on DSP. JMP Securities lowered their price target on shares of Viant Technology from $18.00 to $14.00 and set a market outperform rating for the company in a report on Friday, March 11th. Canaccord Genuity Group lowered their price target on shares of Viant Technology from $14.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on shares of Viant Technology from $15.00 to $10.00 and set a buy rating on the stock in a research note on Friday, March 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Viant Technology presently has an average rating of Buy and a consensus target price of $16.61.

Shares of DSP traded down $0.05 during midday trading on Friday, hitting $5.48. The stock had a trading volume of 175,022 shares, compared to its average volume of 200,324. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.24 and a current ratio of 4.41. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $8.51. Viant Technology has a fifty-two week low of $5.17 and a fifty-two week high of $36.46.

Viant Technology (NASDAQ:DSPGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Viant Technology had a negative net margin of 3.46% and a negative return on equity of 14.04%. During the same quarter in the prior year, the business posted ($0.27) earnings per share. On average, equities research analysts expect that Viant Technology will post -0.22 earnings per share for the current year.

In other Viant Technology news, CFO Larry Madden sold 21,628 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $6.08, for a total transaction of $131,498.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. boosted its holdings in shares of Viant Technology by 136.7% in the 4th quarter. Citigroup Inc. now owns 2,982 shares of the company’s stock worth $29,000 after buying an additional 1,722 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Viant Technology by 252.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,524 shares of the company’s stock worth $36,000 after buying an additional 1,808 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Viant Technology during the 3rd quarter valued at $28,000. Bank of New York Mellon Corp raised its position in shares of Viant Technology by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 28,476 shares of the company’s stock valued at $348,000 after buying an additional 2,644 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Viant Technology by 20.0% during the 4th quarter. First Trust Advisors LP now owns 21,872 shares of the company’s stock valued at $212,000 after buying an additional 3,645 shares in the last quarter. 14.52% of the stock is owned by institutional investors and hedge funds.

About Viant Technology (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, including desktop, mobile, connected and linear TV, in-game, streaming audio, and digital billboards.

Further Reading

Get a free copy of the Zacks research report on Viant Technology (DSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Viant Technology (NASDAQ:DSP)

Receive News & Ratings for Viant Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viant Technology and related companies with MarketBeat.com's FREE daily email newsletter.