Needham & Company LLC Forecasts Strong Price Appreciation for Viant Technology (NASDAQ:DSP) Stock

Viant Technology (NASDAQ:DSP) had its price objective upped by equities researchers at Needham & Company LLC from $12.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 16.88% from the company’s current price.

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

Viant Technology Stock Performance

Shares of DSP opened at $15.40 on Wednesday. The company has a market capitalization of $973.28 million, a price-to-earnings ratio of 256.71 and a beta of 0.72. Viant Technology has a 1 year low of $5.36 and a 1 year high of $16.97. The company’s 50 day simple moving average is $11.45 and its 200 day simple moving average is $10.50.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data 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). The company had revenue of $41.56 million for 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%. Equities analysts expect that Viant Technology will post -0.37 EPS for the current fiscal year.

Insider Activity

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the business’s stock in a transaction 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 owns 538,434 shares in the company, valued at $5,949,695.70. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in Viant Technology by 379.0% in the 1st quarter. Acadian Asset Management LLC now owns 18,749 shares of the company’s stock worth $198,000 after purchasing an additional 14,835 shares during the last quarter. Heron Bay Capital Management acquired a new position in Viant Technology during the 1st quarter worth $243,000. Quadrature Capital Ltd lifted its holdings in Viant Technology by 39.0% in the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares during the period. Kennedy Capital Management LLC lifted its holdings in 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 purchasing an additional 1,562 shares during the period. Finally, Summit Global Investments bought a new position in Viant Technology in the 2nd quarter valued at about $111,000. 11.38% of the stock is currently owned by institutional investors.

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.