Viant Technology Inc. (NASDAQ:DSP) Receives Average Rating of “Buy” from Brokerages

Viant Technology Inc. (NASDAQ:DSP) has earned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.7778.

Several brokerages recently issued reports on DSP. Raymond James Financial reduced their target price on shares of Viant Technology from $20.00 to $19.00 and set a “strong-buy” rating for the company in a report on Tuesday, August 12th. Canaccord Genuity Group cut their price objective on shares of Viant Technology from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. DA Davidson assumed coverage on shares of Viant Technology in a report on Friday, August 29th. They issued a “buy” rating and a $15.00 price objective for the company. JMP Securities cut their price objective on shares of Viant Technology from $24.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Tuesday, August 12th.

Viant Technology Price Performance

Shares of Viant Technology stock opened at $8.69 on Friday. The firm has a fifty day moving average price of $10.40 and a 200 day moving average price of $12.47. Viant Technology has a 1 year low of $8.19 and a 1 year high of $26.33. The stock has a market cap of $547.04 million, a PE ratio of 66.85 and a beta of 1.06.

Insider Transactions at Viant Technology

In other news, COO Christopher Vanderhook sold 8,782 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $85,448.86. Following the completion of the sale, the chief operating officer owned 356,284 shares of the company’s stock, valued at $3,466,643.32. The trade was a 2.41% 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. Also, CFO Larry Madden sold 13,006 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $9.73, for a total transaction of $126,548.38. Following the sale, the chief financial officer directly owned 423,255 shares of the company’s stock, valued at $4,118,271.15. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. 29.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. boosted its position in Viant Technology by 37.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company’s stock worth $12,283,000 after acquiring an additional 267,326 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in Viant Technology during the second quarter worth about $8,443,000. Granite Investment Partners LLC acquired a new position in Viant Technology during the second quarter worth about $7,239,000. Harbor Capital Advisors Inc. boosted its position in Viant Technology by 30.0% during the second quarter. Harbor Capital Advisors Inc. now owns 404,895 shares of the company’s stock worth $5,357,000 after acquiring an additional 93,330 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Viant Technology by 6.4% during the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after acquiring an additional 22,857 shares during the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.