Viant Technology (NASDAQ:DSP) Stock Rating Raised to "Strong-Buy" at DA Davidson

Key Points

• DA Davidson upgraded Viant Technology to “strong buy,” joining a generally positive analyst consensus. The stock has an average “Buy” rating and an average price target of $18.33.
• Viant shares opened at $12.14, with a market capitalization of approximately $807 million and a 52-week trading range of $8.11 to $14.80.
• Company insiders have sold 73,182 shares worth about $922,000 over the past 90 days, while institutional investors own 11.38% of the stock.

Viant Technology (NASDAQ:DSP - Get Free Report) was upgraded by analysts at DA Davidson to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Several other research analysts have also recently commented on the company. Weiss Ratings upgraded Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Citigroup restated a "market outperform" rating on shares of Viant Technology in a research report on Tuesday, August 11th. UBS Group boosted their price objective on Viant Technology from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Citizens Jmp upped their target price on shares of Viant Technology from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Viant Technology from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Viant Technology has an average rating of "Buy" and an average price target of $18.33.

Viant Technology Stock Performance

Viant Technology stock opened at $12.14 on Monday. The stock's 50 day moving average price is $12.55 and its 200 day moving average price is $11.84. Viant Technology has a one year low of $8.11 and a one year high of $14.80. The firm has a market capitalization of $806.95 million, a PE ratio of 39.16 and a beta of 1.11.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 14,602 shares of the firm's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $12.10, for a total value of $176,684.20. Following the completion of the transaction, the chief financial officer directly owned 342,711 shares in the company, valued at $4,146,803.10. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,182 shares of company stock worth $921,696 over the last ninety days. 29.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Viant Technology

Several hedge funds and other institutional investors have recently modified their holdings of DSP. Versant Capital Management Inc boosted its position in Viant Technology by 202.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock worth $35,000 after acquiring an additional 1,855 shares during the period. Meeder Asset Management Inc. bought a new stake in Viant Technology in the first quarter worth approximately $97,000. Hillsdale Investment Management Inc. bought a new stake in Viant Technology in the first quarter worth $320,000. Squarepoint Ops LLC increased its holdings in shares of Viant Technology by 8.8% during the 2nd quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock valued at $501,000 after acquiring an additional 3,207 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Viant Technology during the second quarter valued at approximately $609,000. Institutional investors and hedge funds own 11.38% of the company's stock.

About Viant Technology

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company's technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.

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