Viant Technology Analysts Boost Their Forecasts Following Upbeat Earnings - Viant Technology (NASDAQ:DSP)

Viant Technology (NASDAQ:DSP) reported better-than-expected fourth-quarter adjusted earnings results and issued first-quarter revenue guidance above estimates.

Viant Technology posted adjusted earnings of 14 cents per share, versus market expectations for a loss of 3 cents per share. The company’s quarterly sales came in at $64.41 million, missing estimates of $65.92 million, according to data from Benzinga Pro.

Viant Technology said it sees first-quarter revenue of $49 million to $52 million, versus estimates of $48.224 million.

"Our strong fourth quarter results capped off a year of accelerating growth and innovation at Viant," said Tim Vanderhook, Co-Founder and CEO, Viant. "With the impending deprecation of cookies, I believe we are at a tipping point in the market where advertisers are looking for new platforms for their omnichannel programmatic advertising needs, and we are seeing this materialize in customers shifting budgets to Viant. We have over ten years of R&D invested in our Household ID technology which enables advertisers to plan, buy, and measure their spend in cookie-free environments, and our new AI product suite drove even more return on ad spend for our customers."

Viant Technology shares gained 1.3% to close at $9.18 on Monday.

These analysts made changes to their price targets on Viant Technology after the company reported quarterly results.

Needham raised the price target on Viant Technology from $10 to $12. Needham analyst Laura Martin maintained a Buy rating.
Canaccord Genuity boosted the price target on Viant Technology from $8 to $10. Canaccord Genuity analyst Maria Ripps maintained a Hold rating.

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DSPViant Technology Inc

$10.710.09%

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