Viant Technology (NASDAQ:DSP) Sees Large Volume Increase Following Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP) saw strong trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $12.00 to $18.00. Needham & Company LLC currently has a buy rating on the stock. 76,110 shares traded hands during trading, a decline of 38% from the previous session’s volume of 122,610 shares.The stock last traded at $15.40 and had previously closed at $16.46.

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

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 538,434 shares in the company, valued at $5,949,695.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after purchasing an additional 3,123 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after buying an additional 2,915 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Viant Technology during the third quarter valued at about $122,000. Summit Global Investments increased its position in shares of Viant Technology by 145.9% during the third quarter. Summit Global Investments now owns 27,736 shares of the company’s stock worth $307,000 after acquiring an additional 16,457 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Viant Technology in the second quarter worth about $128,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Price Performance

The business has a fifty day moving average of $11.45 and a 200 day moving average of $10.50. The stock has a market cap of $973.28 million, a PE ratio of 274.38 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The business had revenue of $41.56 million for the quarter, compared to analysts’ expectations of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. On average, equities research analysts expect that Viant Technology Inc. will post -0.37 EPS for the current 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.