Viant Technology (NASDAQ:DSP) Shares Gap Up on Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP)’s stock price gapped up before the market opened on Wednesday after Needham & Company LLC raised their price target on the stock from $12.00 to $18.00. The stock had previously closed at $13.52, but opened at $15.26. Needham & Company LLC currently has a buy rating on the stock. Viant Technology shares last traded at $16.04, with a volume of 204,590 shares traded.

A number of other equities analysts have also weighed in on DSP. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Craig Hallum increased their price objective on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $18.00 in a report on Wednesday. Finally, JMP Securities increased their price objective on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology currently has an average rating of “Buy” and a consensus price target of $15.86.

Insider Buying and Selling

In related news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 10,419 shares of company stock worth $116,647 in the last ninety days. 28.80% of the stock is owned by insiders.

Institutional Trading of Viant Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kennedy Capital Management LLC grew its holdings in shares of Viant Technology by 3.8% in the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock worth $458,000 after acquiring an additional 1,562 shares during the period. GSA Capital Partners LLP lifted its position in shares of Viant Technology by 4.4% in the first quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock valued at $431,000 after acquiring an additional 1,699 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Viant Technology by 5.1% in the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock valued at $419,000 after acquiring an additional 2,070 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Viant Technology by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after acquiring an additional 2,915 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Viant Technology by 77.9% in the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares in the last quarter. Institutional investors own 11.38% of the company’s stock.

Viant Technology Price Performance

The company has a 50-day moving average price of $11.33 and a 200 day moving average price of $10.46. The firm has a market capitalization of $1.05 billion, a PE ratio of 276.55 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The firm had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $41.10 million. Viant Technology had a negative return on equity of 5.69% and a net margin of 0.47%. As a group, research analysts anticipate that Viant Technology Inc. will post -0.37 earnings per share for the current year.

About Viant Technology

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.