Needham & Company LLC Boosts Viant Technology (NASDAQ:DSP) Price Target to $18.00

Viant Technology (NASDAQ:DSP) had its price objective boosted by stock analysts at Needham & Company LLC from $12.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 8.24% from the stock’s current price.

A number of other equities research analysts have also issued reports on DSP. Craig Hallum upped their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday. JMP Securities increased their price objective on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

Shares of Viant Technology stock traded up $3.11 during trading on Wednesday, reaching $16.63. The company had a trading volume of 475,032 shares, compared to its average volume of 121,845. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 276.55 and a beta of 0.72. The firm’s fifty day moving average is $11.33 and its 200-day moving average is $10.46. Viant Technology has a fifty-two week low of $5.36 and a fifty-two week high of $16.97.

Viant Technology (NASDAQ:DSP) last issued its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The company had revenue of $41.56 million during the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. On average, research analysts anticipate that Viant Technology will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $11.23, for a total value of $31,084.64. Following the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 10,419 shares of company stock worth $116,647 in the last ninety days. Insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Viant Technology during the 2nd quarter worth about $47,000. FMR LLC lifted its holdings in Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after purchasing an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Viant Technology during the 2nd quarter valued at about $84,000. Summit Global Investments bought a new position in shares of Viant Technology in the second quarter worth about $111,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Viant Technology during the 2nd quarter worth approximately $112,000. 11.38% of the stock is owned by institutional investors.

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.