Viant Technology (NASDAQ:DSP) Raised to Buy at Wall Street Zen

by · The Cerbat Gem

Viant Technology (NASDAQ:DSP – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Weiss Ratings raised shares of Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. DA Davidson increased their price target on Viant Technology from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Tuesday, August 11th. UBS Group lifted their price target on Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities upped their price objective on Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and a consensus target price of $18.33.

View Our Latest Analysis on DSP

Viant Technology Price Performance

Shares of DSP stock opened at $11.88 on Friday. The firm has a 50-day moving average of $12.42 and a 200-day moving average of $11.74. Viant Technology has a one year low of $8.11 and a one year high of $14.80. The company has a market cap of $789.66 million, a P/E ratio of 38.32 and a beta of 1.13.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,602 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $12.10, for a total value of $176,684.20. Following the transaction, the chief financial officer owned 342,711 shares in the company, valued at approximately $4,146,803.10. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 92,428 shares of company stock valued at $1,168,392. Insiders own 29.43% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after purchasing an additional 1,855 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Viant Technology in the first quarter valued at approximately $97,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Viant Technology during the 1st quarter valued at approximately $320,000. Squarepoint Ops LLC lifted its stake in shares of Viant Technology by 8.8% during the 2nd quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock valued at $501,000 after buying an additional 3,207 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Viant Technology in the 2nd quarter worth approximately $609,000. 11.38% of the stock is currently owned by institutional investors.

Viant Technology News Summary

Here are the key news stories impacting Viant Technology this week:

  • Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
  • Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
  • Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing

About Viant Technology

(Get Free Report)

Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.

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