Viant Technology Inc. (NASDAQ:DSP) Stock Now Rated "Buy" by Sell-Side Analysts

Key Points

• Viant Technology has a consensus “Buy” rating from eight analysts: five buys, two strong buys, and one hold. The average 12-month price target is $18.33, above the stock’s reported $13.23 price.
• Analysts have recently raised their views, including UBS increasing its target to $19 and DA Davidson upgrading the stock to “strong buy.”
• CFO Larry Madden sold 27,451 shares for approximately $358,510 under a pre-arranged Rule 10b5-1 plan, while several institutional investors increased their holdings; insiders own 29.43% of the company.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) has been given a consensus rating of "Buy" by the eight ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.33.

Several research firms have weighed in on DSP. Wall Street Zen upgraded Viant Technology from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. Citizens Jmp lifted their price objective on Viant Technology from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 11th. Citigroup reissued a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th. DA Davidson upgraded Viant Technology to a "strong-buy" rating in a report on Monday, October 5th. Finally, UBS Group raised their price target on Viant Technology from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 27,451 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total transaction of $358,510.06. Following the transaction, the chief financial officer directly owned 398,371 shares of the company's stock, valued at approximately $5,202,725.26. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,909 shares of company stock worth $778,642. 29.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several institutional investors and hedge funds have recently modified their holdings of DSP. Squarepoint Ops LLC increased its position in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock valued at $501,000 after buying an additional 3,207 shares during the period. Globeflex Capital L P purchased a new stake in Viant Technology in the second quarter worth about $1,316,000. Bank of New York Mellon Corp purchased a new stake in Viant Technology in the second quarter worth about $609,000. Versant Capital Management Inc lifted its holdings in Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock worth $35,000 after buying an additional 1,855 shares during the period. Finally, Quantinno Capital Management LP boosted 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 valued at $699,000 after acquiring an additional 28,052 shares in the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Price Performance

NASDAQ DSP opened at $13.23 on Wednesday. Viant Technology has a 1 year low of $8.16 and a 1 year high of $14.80. The stock has a market capitalization of $879.40 million, a PE ratio of 42.68 and a beta of 1.11. The business's 50-day moving average is $12.68 and its 200 day moving average is $11.91.

Viant Technology Company Profile

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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