Home Top Movers Viant Technology Inc. (DSP) stock is climbing today: What’s Going on?

Viant Technology Inc. (DSP) stock is climbing today: What’s Going on?

Shares of Viant Technology Inc. (DSP) were climbing today on June 4, 2021, after facing bearish sentiment in the previous trading. DSP stock price saw an uptrend of 6.79% to reach $35.05 a share as of this writing. DSP stock went down by 4.59% and its per-share price was $32.82 at the previous closing. Let’s try to figure out the reason behind today’s bull.

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What’s Happening?

There is no announcement by DSP stock on today’s date however Viant stock did announce that its Chief executive officer Tim Vanderhook and other senior industry experts will discuss the future of digital identity on Thursday, June 10, 2021, at Viant Panel.

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First Quarter Financial Results:

About two weeks ago, Viant stock did announce the first quarter of 2021 financial results according to which.

  • $40.1 million revenue was generated in the reported period which represents a yearly increase of 5%.
  • The gross profit for the DSP stock went up by 9% Y0Y to reach $15.8 million for the first quarter of 2021.
  • Net loss for the DSP stock was reported $14.9 million, or ($0.27) per share as compared to $0.3 million net income in the same quarter of last year.
  • Non-GAAP net income was totaled $2.2 million for the Class A common DSP stock in the first three months of 2021.
  • Adjusted EBITDA increased by 51% from 3.2 million in Q1 2020 to $4.9 in Q1 2021.

Guidance for 2nd Quarter and Full Year 2021:

The revenue is projected to be between $45 million to $47 million for the second quarter of 2021 while the full year 2021 revenue is estimated between  $200 million to $205 million which points to the yearly growth of 21% to 24%.

$29.5 million to $30.5 million revenue from the ex-TAC is estimated by DSP stock for the second quarter of 2021 and the full-year revenue from the same segment would be in the range of $135 million to $140 which means 22% to 27% yearly growth is expected.

DSP stock estimated adjusted EBITDA to be between $3.5 million to $4.5 million for the second quarter while for the full year, adjusted EBITDA is projected to be between $24 million to $27 million.

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Wrap Up:

Viant stock is hot among the investors so far despite no specific activity by DSP stock except the announcement of a discussion panel related to the digital advertisement. First-quarter earnings results were positive, and guidance shows that DSP stock is growing with time. Hence it can be a good bet for investors in the future.

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