Viant Technology Inc. (NASDAQ:DSP) Receives Average Rating of "Buy" from Brokerages

Key Points

• Analysts remain broadly positive: Viant Technology has a consensus “Buy” rating from eight analysts, with a $18.33 average 12-month price target versus shares opening at $11.88.
• Institutional ownership increased: Several investment firms added to or initiated positions, although institutional investors and hedge funds collectively own only 11.38% of the company.
• Insiders have been selling shares: Viant’s CFO sold 27,451 shares for approximately $358,500, while insiders sold about $1.17 million worth of stock during the last quarter; the transactions were made under a pre-arranged Rule 10b5-1 plan.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.3333.

A number of research analysts recently commented on the stock. Citizens Jmp boosted their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Viant Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings raised shares of Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. UBS Group boosted their price target on shares of Viant Technology from $17.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 27,451 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $13.06, for a total value of $358,510.06. Following the transaction, the chief financial officer owned 398,371 shares in the company, valued at $5,202,725.26. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,428 shares of company stock valued at $1,168,392 in the last quarter. Insiders own 29.43% of the company's stock.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company's stock worth $10,981,000 after acquiring an additional 382,664 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Viant Technology by 16.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company's stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Viant Technology in the 2nd quarter valued at approximately $1,316,000. Norwood Investment Partners LP acquired a new stake in Viant Technology in the 4th quarter worth approximately $1,186,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in Viant Technology in the 4th quarter worth approximately $873,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Key Viant Technology News

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 Price Performance

Shares of DSP opened at $11.88 on Friday. The business's 50-day moving average is $12.42 and its 200-day moving average is $11.73. The company has a market capitalization of $789.66 million, a price-to-earnings ratio of 38.32 and a beta of 1.13. Viant Technology has a fifty-two week low of $8.11 and a fifty-two week high of $14.80.

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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