JMP Securities Lowers Viant Technology (NASDAQ:DSP) Price Target to $18.00

Key Points

• JMP Securities has lowered the price target for Viant Technology (NASDAQ:DSP) from $24.00 to $18.00, while maintaining a "market outperform" rating on the stock.
• Despite the downgrade, the target price suggests a potential upside of 50% from the stock's previous close of $12.00.
• Viant Technology's stock has received mixed ratings, with a consensus of "Buy" and an average target price of $20.38 from seven analysts.

Viant Technology (NASDAQ:DSP - Get Free Report) had its price target cut by research analysts at JMP Securities from $24.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 50.00% from the stock's previous close.

Several other brokerages have also recently weighed in on DSP. Raymond James Financial decreased their price target on Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating on the stock in a research report on Tuesday. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Wednesday, May 7th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $20.38.

Viant Technology Stock Down 3.8%

Shares of DSP opened at $12.00 on Tuesday. The business's 50-day moving average price is $13.50 and its 200-day moving average price is $15.12. Viant Technology has a twelve month low of $8.70 and a twelve month high of $26.33. The stock has a market cap of $750.84 million, a PE ratio of 109.10 and a beta of 1.12.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, CEO Timothy Vanderhook sold 8,960 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $13.08, for a total transaction of $117,196.80. Following the transaction, the chief executive officer directly owned 365,076 shares in the company, valued at $4,775,194.08. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Larry Madden sold 13,265 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $13.08, for a total transaction of $173,506.20. Following the transaction, the chief financial officer owned 436,261 shares in the company, valued at $5,706,293.88. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,125 shares of company stock worth $430,048 over the last ninety days. Insiders own 28.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH purchased a new stake in Viant Technology in the second quarter worth $8,443,000. JPMorgan Chase & Co. increased its holdings in Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company's stock worth $8,323,000 after buying an additional 341,684 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Viant Technology in the 1st quarter worth about $4,023,000. Harbor Capital Advisors Inc. purchased a new position in Viant Technology in the first quarter worth about $3,867,000. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Viant Technology by 37.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company's stock valued at $12,283,000 after buying an additional 267,326 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.

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