Viant Technology (NASDAQ:DSP) Sees Unusually-High Trading Volume After Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP) shares saw an uptick in 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 mid-day 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 issued reports on the company. Craig Hallum increased 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 raised shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $18.00 in a research note on Wednesday. Finally, JMP Securities raised their price target on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.86.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 538,434 shares in the company, valued at $5,949,695.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 10,419 shares of company stock worth $116,647 in the last quarter. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several hedge funds have recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new stake in shares of Viant Technology in the second quarter valued at about $1,387,000. Acadian Asset Management LLC lifted its position in shares of 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 acquiring an additional 123,635 shares during the period. Federated Hermes Inc. boosted its stake in shares of Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after acquiring an additional 66,509 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Viant Technology in the 2nd quarter worth approximately $236,000. Finally, Heron Bay Capital Management purchased a new position in Viant Technology in the 1st quarter valued at approximately $243,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Trading Down 6.4 %

The firm has a 50 day moving average of $11.45 and a two-hundred day moving average of $10.50. The stock has a market capitalization of $973.28 million, a PE ratio of 274.38 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $41.10 million. Equities research analysts forecast that Viant Technology Inc. will post -0.37 EPS 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.