Viant Technology Inc. (NASDAQ:DSP) Given Average Recommendation of “Buy” by Brokerages

Shares of Viant Technology Inc. (NASDAQ:DSP) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

Several brokerages recently commented on DSP. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research note on Wednesday.

Viant Technology Stock Performance

Shares of DSP traded up $2.86 during trading hours on Wednesday, reaching $16.38. 316,055 shares of the company traded hands, compared to its average volume of 121,122. The stock’s fifty day moving average is $11.33 and its 200 day moving average is $10.46. Viant Technology has a 1-year low of $5.36 and a 1-year high of $16.45. The stock has a market cap of $1.04 billion, a P/E ratio of -323.80 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. On average, equities research analysts predict that Viant Technology will post -0.37 EPS for the current year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the sale, the chief financial officer now directly owns 538,434 shares of the company’s stock, valued at approximately $5,949,695.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 10,419 shares of company stock worth $116,647 in the last quarter. 28.80% of the stock is owned by corporate 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. Segall Bryant & Hamill LLC lifted its position in shares of Viant Technology by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after purchasing an additional 2,915 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Viant Technology by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company’s stock worth $1,769,000 after buying an additional 6,064 shares in the last quarter. Acadian Asset Management LLC boosted its position in Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after buying an additional 123,635 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Viant Technology in the 2nd quarter valued at $1,387,000. Finally, Quadrature Capital Ltd raised its position in shares of Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after acquiring an additional 20,668 shares during the last quarter. Institutional investors and hedge funds 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.