Viant Technology (NASDAQ:DSP) Stock Rating Raised to Strong-Buy at DA Davidson

by · The Markets Daily

DA Davidson upgraded shares of Viant Technology (NASDAQ:DSP – Free Report) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

Other analysts have also issued research reports about the stock. Citizens Jmp lifted their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 11th. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. Rosenblatt Securities raised their price target on shares of Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Viant Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Finally, UBS Group upped their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.33.

View Our Latest Research Report on Viant Technology

Viant Technology Stock Performance

Shares of NASDAQ:DSP opened at $12.14 on Monday. The business’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $11.84. The company has a market cap of $806.95 million, a P/E ratio of 39.16 and a beta of 1.11. Viant Technology has a one year low of $8.11 and a one year high of $14.80.

Insider Activity

In other news, CFO Larry Madden sold 27,451 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. This represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 73,182 shares of company stock valued at $921,696. Corporate insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares during the period. Squarepoint Ops LLC boosted its position in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock worth $501,000 after buying an additional 3,207 shares during the period. Meeder Asset Management Inc. bought a new position in Viant Technology in the 1st quarter worth approximately $97,000. Quantinno Capital Management LP grew its holdings in Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after buying an additional 28,052 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Viant Technology in the 1st quarter valued at approximately $320,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

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

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.

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