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

Viant Technology Inc. (NASDAQ:DSP) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.29.

A number of equities research analysts have weighed in on the company. JMP Securities lifted their target price on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. Needham & Company LLC lifted their target price on Viant Technology from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Scotiabank assumed coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 target price for the company. Finally, Craig Hallum lifted their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Viant Technology Stock Performance

Shares of DSP stock opened at $22.28 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of 371.40 and a beta of 1.01. The stock has a 50 day simple moving average of $20.71 and a two-hundred day simple moving average of $15.60. Viant Technology has a fifty-two week low of $7.77 and a fifty-two week high of $26.33.

Insider Activity

In related news, CFO Larry Madden sold 14,284 shares of Viant Technology stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.51, for a total transaction of $278,680.84. Following the transaction, the chief financial officer now owns 378,350 shares of the company’s stock, valued at $7,381,608.50. The trade was a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the transaction, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,352 shares of company stock worth $1,030,720 over the last quarter. 28.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

About Viant Technology

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.