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

Zacks Investment Research lowered shares of Viant Technology (NASDAQ:DSP) from a buy rating to a hold rating in a report issued on Tuesday 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 brokerages have also recently issued reports on DSP. JMP Securities raised Viant Technology from a market perform rating to an outperform rating and set a $18.00 price objective on the stock in a research note on Monday, September 27th. Needham & Company LLC initiated coverage on Viant Technology in a research note on Wednesday, November 17th. They set a buy rating and a $61.00 price objective on the stock. reduced their price objective on Viant Technology from $38.00 to $25.00 and set a buy rating on the stock in a research note on Wednesday, November 10th. Finally, Berenberg Bank initiated coverage on Viant Technology in a research note on Wednesday, September 22nd. They set a buy rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Viant Technology has a consensus rating of Buy and an average price target of $27.21.

NASDAQ DSP opened at $8.54 on Tuesday. The stock’s 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $13.70. Viant Technology has a twelve month low of $7.95 and a twelve month high of $69.16. The company has a quick ratio of 5.13, a current ratio of 5.13 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $517.69 million and a price-to-earnings ratio of 0.71.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Tuesday, November 9th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.07). Viant Technology had a net margin of 1.80% and a negative return on equity of 10.43%. The firm had revenue of $34.08 million for the quarter, compared to analysts’ expectations of $33.10 million. On average, equities analysts expect that Viant Technology will post -2.9 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of DSP. New York State Common Retirement Fund grew its stake in shares of Viant Technology by 30.3% in the second quarter. New York State Common Retirement Fund now owns 8,988 shares of the company’s stock worth $268,000 after purchasing an additional 2,088 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Viant Technology by 41.3% in the second quarter. Envestnet Asset Management Inc. now owns 9,261 shares of the company’s stock worth $276,000 after purchasing an additional 2,708 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Viant Technology by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,090 shares of the company’s stock worth $211,000 after purchasing an additional 999 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Viant Technology by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 1,150,389 shares of the company’s stock worth $34,259,000 after purchasing an additional 107,668 shares during the last quarter. Finally, CNA Financial Corp grew its stake in shares of Viant Technology by 69.3% in the second quarter. CNA Financial Corp now owns 28,892 shares of the company’s stock worth $860,000 after purchasing an additional 11,827 shares during the last quarter. 16.27% of the stock is currently owned by institutional investors.

Viant Technology Company Profile

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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