Wall Street Zen Upgrades Viant Technology (NASDAQ:DSP) to "Buy"

Key Points

• Wall Street Zen upgraded Viant Technology to “Buy” from “Hold.” The broader analyst consensus is also “Buy,” with an average price target of $18.33 versus the reported share price of $11.88.
• Viant shares have traded between $8.11 and $14.80 over the past year, with a market capitalization of approximately $789.7 million and a P/E ratio of 38.32.
• The company and a selling stockholder abandoned a planned 8.5 million-share offering, reducing near-term dilution concerns. Separately, CFO Larry Madden sold shares under a pre-arranged Rule 10b5-1 plan but retained 342,711 shares.

Viant Technology (NASDAQ:DSP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Citizens Jmp boosted their price target on Viant Technology from $16.00 to $17.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 11th. UBS Group raised their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Citigroup reiterated a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Finally, Rosenblatt Securities increased their price target on shares of Viant Technology from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $18.33.

Viant Technology Price Performance

Shares of DSP stock opened at $11.88 on Friday. Viant Technology has a fifty-two week low of $8.11 and a fifty-two week high of $14.80. The stock's 50-day moving average is $12.42 and its two-hundred day moving average is $11.73. The firm has a market cap of $789.66 million, a P/E ratio of 38.32 and a beta of 1.13.

Insiders Place Their Bets

In related news, CFO Larry Madden sold 14,602 shares of the business's stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $12.10, for a total value of $176,684.20. Following the completion of the sale, the chief financial officer directly owned 342,711 shares in the company, valued at approximately $4,146,803.10. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 92,428 shares of company stock valued at $1,168,392. 29.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors have recently modified their holdings of DSP. Squarepoint Ops LLC lifted its stake in shares of Viant Technology by 8.8% in the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock worth $501,000 after buying an additional 3,207 shares during the last quarter. Globeflex Capital L P acquired a new position in Viant Technology in the 2nd quarter valued at $1,316,000. Bank of New York Mellon Corp bought a new position in Viant Technology in the 2nd quarter worth $609,000. Versant Capital Management Inc raised its holdings in Viant Technology by 202.3% in 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. Finally, Quantinno Capital Management LP lifted its position in Viant Technology by 81.6% during the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company's stock worth $699,000 after acquiring an additional 28,052 shares during the last quarter. Institutional investors own 11.38% of the company's stock.

Viant Technology News Roundup

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
• Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
• Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing

Viant Technology Company Profile

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

The company's platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.

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