UBS Group Lowers Viant Technology (NASDAQ:DSP) Price Target to $7.00

Viant Technology (NASDAQ:DSP) had its price target lowered by investment analysts at UBS Group from $8.00 to $7.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 28.21% from the stock’s current price.

DSP has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Viant Technology in a research report on Tuesday, August 8th. Raymond James upgraded shares of Viant Technology from a “market perform” rating to an “outperform” rating and set a $7.00 price target for the company in a research report on Tuesday. Finally, JMP Securities upped their price target on shares of Viant Technology from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.64.

Viant Technology Stock Up 2.6 %

DSP opened at $5.46 on Thursday. The firm has a 50 day moving average price of $5.69 and a 200-day moving average price of $5.06. Viant Technology has a twelve month low of $3.15 and a twelve month high of $7.21. The stock has a market capitalization of $340.81 million, a price-to-earnings ratio of -8.95 and a beta of 0.28.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.19. Viant Technology had a negative net margin of 4.38% and a negative return on equity of 3.35%. The firm had revenue of $33.69 million during the quarter, compared to analysts’ expectations of $33.10 million. As a group, analysts expect that Viant Technology will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Viant Technology

A number of hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Viant Technology by 185.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,108 shares of the company’s stock valued at $101,000 after acquiring an additional 11,768 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Viant Technology by 112.3% in the second quarter. Wells Fargo & Company MN now owns 6,116 shares of the company’s stock worth $28,000 after purchasing an additional 3,235 shares during the last quarter. Whetstone Capital Advisors LLC grew its holdings in shares of Viant Technology by 34.7% in the second quarter. Whetstone Capital Advisors LLC now owns 174,847 shares of the company’s stock worth $806,000 after purchasing an additional 45,089 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Viant Technology in the second quarter worth about $67,000. Finally, Royal Bank of Canada grew its holdings in Viant Technology by 91.4% during the 2nd quarter. Royal Bank of Canada now owns 6,386 shares of the company’s stock worth $29,000 after acquiring an additional 3,050 shares in the last quarter. Hedge funds and other institutional investors own 11.79% of the company’s stock.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Adelphic, a cloud-based demand side platform (DSP) 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.