DA Davidson Forecasts Strong Price Appreciation for Viant Technology (NASDAQ:DSP) Stock

Key Points

• DA Davidson raised its price target on Viant to $16 (from $15.50) and kept a Buy rating, implying roughly a 30.9% upside from the prior close; the analyst consensus is a Buy with an average target of $17.79.
• Shares traded at $12.22, valuing Viant at about $774 million with a P/E of 38.16 and a 12‑month range of $8.11 to $16.25.
• Insiders have been net sellers recently — the CFO sold 7,297 shares and insiders sold 143,179 shares over the past 90 days — though insiders still own roughly 29.4% of the stock.

Viant Technology (NASDAQ:DSP - Get Free Report) had its target price increased by stock analysts at DA Davidson from $15.50 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 30.93% from the stock's previous close.

Several other research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Viant Technology from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Loop Capital set a $14.50 price objective on shares of Viant Technology in a research note on Tuesday, March 10th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a research report on Thursday. Weiss Ratings restated a "hold (c-)" rating on shares of Viant Technology in a report on Wednesday, January 21st. Finally, B. Riley Financial reaffirmed a "buy" rating and issued a $17.00 target price (up from $16.50) on shares of Viant Technology in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $17.79.

Viant Technology Price Performance

Shares of DSP traded up $0.63 during trading hours on Thursday, reaching $12.22. 116,659 shares of the company's stock traded hands, compared to its average volume of 209,004. The firm has a market capitalization of $774.14 million, a price-to-earnings ratio of 38.16 and a beta of 0.94. The business's fifty day simple moving average is $10.50 and its two-hundred day simple moving average is $10.53. Viant Technology has a twelve month low of $8.11 and a twelve month high of $16.25.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 7,297 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $11.31, for a total value of $82,529.07. Following the completion of the sale, the chief financial officer directly owned 593,027 shares in the company, valued at approximately $6,707,135.37. The trade was a 1.22% 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. Also, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $11.94, for a total value of $179,100.00. Following the transaction, the insider owned 22,500 shares in the company, valued at approximately $268,650. This trade represents a 40.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 143,179 shares of company stock valued at $1,586,238. 29.40% of the stock is owned by insiders.

Institutional Trading of Viant Technology

Several large investors have recently modified their holdings of DSP. Rhumbline Advisers grew its position in Viant Technology by 2.4% during the second quarter. Rhumbline Advisers now owns 45,042 shares of the company's stock worth $596,000 after buying an additional 1,056 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Viant Technology by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company's stock valued at $359,000 after acquiring an additional 1,109 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock worth $32,000 after acquiring an additional 1,228 shares during the period. Strs Ohio grew its holdings in shares of Viant Technology by 4.5% during the 3rd quarter. Strs Ohio now owns 39,300 shares of the company's stock worth $339,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Viant Technology by 8.2% during the fourth quarter. Hsbc Holdings PLC now owns 27,950 shares of the company's stock valued at $332,000 after purchasing an additional 2,122 shares during the period. 11.38% of the stock is owned by institutional investors.

About Viant Technology

Viant Technology Inc Nasdaq: DSP is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.

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