Viant Technology (NASDAQ:DSP) Trading Down 10.7% – Here’s Why

Shares of Viant Technology Inc. (NASDAQ:DSP) fell 10.7% on Monday . The company traded as low as $13.29 and last traded at $13.10. 83,147 shares were traded during trading, a decline of 57% from the average session volume of 193,834 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DSP. Scotiabank began coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target on the stock. Canaccord Genuity Group boosted their price target on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Raymond James dropped their price target on Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. JMP Securities boosted their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Finally, Craig Hallum upped their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.43.

Viant Technology Price Performance

The stock has a 50-day moving average of $20.10 and a 200 day moving average of $16.35. The stock has a market cap of $840.15 million, a PE ratio of 222.04 and a beta of 1.02.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the sale, the chief financial officer now owns 344,340 shares in the company, valued at approximately $7,961,140.80. This represents a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $27,000. Summit Investment Advisors Inc. raised its stake in shares of Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock worth $30,000 after buying an additional 728 shares during the period. FMR LLC raised its stake in shares of Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after buying an additional 3,123 shares during the period. Quantbot Technologies LP acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.