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

Viant Technology Inc. (NASDAQ:DSP)’s share price gapped up prior to trading 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.

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

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.05, for a total transaction of $34,078.20. Following the transaction, the chief financial officer now owns 538,434 shares of the company’s stock, valued at approximately $5,949,695.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 10,419 shares of company stock valued at $116,647 in the last three months. 28.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently added to or reduced their stakes in DSP. ClariVest Asset Management LLC acquired a new position in shares of Viant Technology during the 2nd quarter worth about $1,387,000. Acadian Asset Management LLC lifted its holdings in Viant Technology by 659.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after purchasing an additional 123,635 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock valued at $669,000 after purchasing an additional 66,509 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Viant Technology during the 2nd quarter valued at $236,000. Finally, Heron Bay Capital Management acquired a new stake in shares of Viant Technology during the first quarter worth $243,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Up 23.0 %

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 276.55 and a beta of 0.72. The stock has a fifty day moving average price of $11.33 and a two-hundred day moving average price of $10.46.

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