Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 613,900 shares, a decline of 6.1% from the August 31st total of 653,500 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily volume of 117,500 shares, the days-to-cover ratio is currently 5.2 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Canaccord Genuity Group reissued a “hold” rating and set a $11.00 target price on shares of Viant Technology in a report on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Viant Technology in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Viant Technology presently has an average rating of “Moderate Buy” and an average price target of $11.80.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the transaction, the chief financial officer now owns 538,434 shares in the company, valued at approximately $5,949,695.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Viant Technology during the second quarter worth $47,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Viant Technology during the 2nd quarter valued at $84,000. Summit Global Investments bought a new stake in Viant Technology during the 2nd quarter worth $111,000. Mackenzie Financial Corp acquired a new position in Viant Technology in the 2nd quarter worth about $112,000. Finally, Algert Global LLC bought a new position in Viant Technology in the second quarter valued at about $128,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

Shares of DSP opened at $10.80 on Wednesday. Viant Technology has a 52-week low of $4.98 and a 52-week high of $12.36. The firm has a market cap of $685.75 million, a price-to-earnings ratio of -90.00 and a beta of 0.74. The business’s fifty day moving average is $10.68 and its 200-day moving average is $10.03.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a negative net margin of 0.33% and a negative return on equity of 7.39%. As a group, research analysts forecast that Viant Technology will post -0.37 EPS for the current fiscal year.

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.