Viant Technology (NASDAQ:DSP) Price Target Cut to $18.00 by Analysts at JMP Securities

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 - Free Report) had its target price cut by JMP Securities from $24.00 to $18.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

DSP has been the subject of a number of other research reports. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a report on Wednesday, May 7th. Raymond James Financial cut their price objective on Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Viant Technology currently has a consensus rating of "Buy" and a consensus target price of $20.38.

Viant Technology Price Performance

Shares of DSP traded down $0.03 during mid-day trading on Tuesday, reaching $9.50. The stock had a trading volume of 368,657 shares, compared to its average volume of 304,446. Viant Technology has a 52-week low of $9.22 and a 52-week high of $26.33. The business's fifty day moving average is $13.16 and its 200 day moving average is $14.89. The firm has a market cap of $594.42 million, a price-to-earnings ratio of 73.08 and a beta of 1.12.

Insider Buying and Selling

In related news, Director Max O. Valdes sold 4,838 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $14.29, for a total transaction of $69,135.02. Following the completion of the sale, the director owned 21,591 shares in the company, valued at $308,535.39. The trade was a 18.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Larry Madden sold 13,265 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $13.08, for a total value of $173,506.20. Following the sale, the chief financial officer owned 436,261 shares of the company's stock, valued at approximately $5,706,293.88. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,125 shares of company stock worth $430,048 over the last 90 days. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Viant Technology by 2.8% during the first quarter. Rhumbline Advisers now owns 43,986 shares of the company's stock worth $546,000 after purchasing an additional 1,214 shares during the last quarter. Bank of America Corp DE increased its position in Viant Technology by 13.8% during the fourth quarter. Bank of America Corp DE now owns 33,272 shares of the company's stock worth $632,000 after buying an additional 4,030 shares during the period. Deutsche Bank AG increased its position in Viant Technology by 30.8% during the fourth quarter. Deutsche Bank AG now owns 17,021 shares of the company's stock worth $323,000 after buying an additional 4,012 shares during the period. BNP Paribas Financial Markets acquired a new position in Viant Technology during the fourth quarter worth approximately $484,000. Finally, Northern Trust Corp increased its position in Viant Technology by 11.2% during the fourth quarter. Northern Trust Corp now owns 158,512 shares of the company's stock worth $3,010,000 after buying an additional 15,996 shares during the period. Hedge funds and other institutional investors own 11.38% of the company's stock.

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.