Analysts Set Viant Technology Inc. (NASDAQ:DSP) Price Target at $21.00

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) has been given an average recommendation of "Buy" by the eight analysts that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $21.00.

Several equities analysts recently weighed in on the stock. Raymond James Financial reduced their price target on shares of Viant Technology from $27.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Viant Technology in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $21.00 target price on shares of Viant Technology in a research report on Wednesday, April 2nd.

Insiders Place Their Bets

In other news, Director Max O. Valdes sold 4,838 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $14.29, for a total value of $69,135.02. Following the completion of the transaction, the director now directly owns 21,591 shares in the company, valued at approximately $308,535.39. This trade represents a 18.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Vanderhook sold 8,960 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 365,076 shares of the company's stock, valued at $4,775,194.08. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,125 shares of company stock worth $430,048 over the last quarter. 28.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently modified their holdings of the company. Punch & Associates Investment Management Inc. boosted its position in shares of Viant Technology by 37.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company's stock valued at $12,283,000 after acquiring an additional 267,326 shares during the period. Renaissance Technologies LLC boosted its position in shares of Viant Technology by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company's stock valued at $8,948,000 after acquiring an additional 106,400 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Viant Technology by 353.7% in the fourth quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company's stock valued at $8,323,000 after acquiring an additional 341,684 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Viant Technology in the first quarter valued at approximately $4,023,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Viant Technology in the first quarter valued at approximately $3,867,000. 11.38% of the stock is currently owned by institutional investors.

Viant Technology Stock Down 2.1%

DSP traded down $0.29 during trading on Thursday, hitting $13.29. 318,873 shares of the company traded hands, compared to its average volume of 242,861. The firm has a market cap of $831.56 million, a P/E ratio of 120.83 and a beta of 1.14. The stock's fifty day moving average is $13.87 and its 200 day moving average is $16.36. Viant Technology has a one year low of $8.70 and a one year high of $26.33.

Viant Technology Company Profile

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.