Needham Reiterates Viant Technology Inc - (DSP) Buy Recommendation
Fintel reports that on July 20, 2023, Needham reiterated coverage of Viant Technology Inc - (NASDAQ:DSP) with a Buy recommendation.
Analyst Price Forecast Suggests 32.67% Upside
As of July 6, 2023, the average one-year price target for Viant Technology Inc - is 6.22. The forecasts range from a low of 5.05 to a high of $7.88. The average price target represents an increase of 32.67% from its latest reported closing price of 4.69.
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The projected annual revenue for Viant Technology Inc - is 195MM, a decrease of 0.40%. The projected annual non-GAAP EPS is -0.49.
What is the Fund Sentiment?
There are 145 funds or institutions reporting positions in Viant Technology Inc -. This is a decrease of 17 owner(s) or 10.49% in the last quarter. Average portfolio weight of all funds dedicated to DSP is 0.02%, a decrease of 6.90%. Total shares owned by institutions decreased in the last three months by 7.38% to 9,042K shares. 
The put/call ratio of DSP is 20.53, indicating a bearish outlook.
What are Other Shareholders Doing?
FAGAX - Fidelity Advisor Growth Opportunities Fund holds 1,347K shares representing 8.94% ownership of the company. No change in the last quarter.
Invenomic Capital Management holds 803K shares representing 5.33% ownership of the company. No change in the last quarter.
BIVIX - Invenomic Fund Institutional Class shares holds 696K shares representing 4.62% ownership of the company. In it's prior filing, the firm reported owning 774K shares, representing a decrease of 11.26%. The firm decreased its portfolio allocation in DSP by 20.21% over the last quarter.
Susquehanna International Group, Llp holds 666K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 466K shares, representing an increase of 30.03%. The firm increased its portfolio allocation in DSP by 30.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 510K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 299K shares, representing an increase of 41.27%. The firm increased its portfolio allocation in DSP by 70.12% over the last quarter.
Viant Technology Background Information
(This description is provided by the company.)
Viant® is a leading people-based advertising software company that enables marketers and their agencies to centralize the planning, buying and measurement of their advertising investments across most channels. Viant’s self-service Demand Side Platform (DSP), Adelphic®, is an enterprise software platform enabling marketers to execute programmatic advertising campaigns across Connected TV, Linear TV, mobile, desktop, audio and digital out-of-home channels. Viant’s Identity Resolution capabilities have linked 115 million U.S. households to more than 1 billion connected devices and is combined with access to more than 280,000 audience attributes from more than 70 people-based data partners. Viant is an Advertising Age 2021 Best Places to Work award winner and Adelphic is featured on AdExchanger’s 2021 Programmatic Power Players list.
Additional reading:
- Viant Technology Announces First Quarter 2023 Financial Results
- Sixth Amendment to the Revolving Credit and Security Agreement and Guaranty, dated as of April 4, 2023, among Viant Technology LLC, Viant US LLC, Adelphic LLC, Myspace LLC, Viant Technology Inc., the Lenders party thereto and PNC Bank, National Association.
- Viant Technology Announces Fourth Quarter and Full Year 2022 Financial Results
- Viant Technology Announces Third Quarter 2022 Financial Results
- Viant Technology Announces Second Quarter 2022 Financial Results
This story originally appeared on Fintel.