Viant Technology (NASDAQ:DSP) Earns Buy Rating from Rosenblatt Securities

Key Points

• Rosenblatt Securities reissued a Buy rating on Viant with a $20.00 price target (implying about a 72.6% upside); analysts' consensus remains a Buy with a $17.71 average target (2 Strong Buy, 6 Buy, 1 Hold).
• Shares opened at $11.59 (12‑month range $8.11–$16.25); Viant has a market cap of $734.2M, a P/E of 36.22, and 50-/200-day moving averages near $10.50.
• Insiders have been selling: the CFO and COO recently sold shares and insiders disposed of 143,179 shares (~$1.59M) in the past 90 days, though insiders still own 29.4% of the company.

Viant Technology (NASDAQ:DSP - Get Free Report)'s stock had its "buy" rating reissued by analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $20.00 target price on the stock. Rosenblatt Securities' price objective suggests a potential upside of 72.56% from the stock's previous close.

A number of other brokerages have also weighed in on DSP. DA Davidson reaffirmed a "buy" rating and issued a $15.50 price target on shares of Viant Technology in a research note on Thursday, March 12th. Freedom Capital raised shares of Viant Technology to a "strong-buy" rating in a research note on Tuesday, March 10th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research note on Tuesday, March 10th. Wall Street Zen raised shares of Viant Technology from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $17.00 price objective (up from $16.50) on shares of Viant Technology in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $17.71.

Viant Technology Stock Performance

Shares of DSP opened at $11.59 on Thursday. Viant Technology has a twelve month low of $8.11 and a twelve month high of $16.25. The firm's 50 day moving average price is $10.50 and its two-hundred day moving average price is $10.53. The firm has a market cap of $734.23 million, a P/E ratio of 36.22 and a beta of 0.94.

Insider Activity

In related news, CFO Larry Madden sold 7,297 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $11.31, for a total transaction of $82,529.07. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Christopher Vanderhook sold 2,920 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $11.42, for a total transaction of $33,346.40. The SEC filing for this sale provides additional information. Insiders have sold 143,179 shares of company stock worth $1,586,238 over the last ninety days. Insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. increased its holdings in Viant Technology by 3.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,199,490 shares of the company's stock worth $10,352,000 after buying an additional 44,357 shares during the last quarter. Royce & Associates LP increased its holdings in Viant Technology by 72.3% during the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company's stock worth $10,981,000 after buying an additional 382,664 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Viant Technology by 2.6% during the fourth quarter. Renaissance Technologies LLC now owns 493,800 shares of the company's stock worth $5,945,000 after buying an additional 12,683 shares during the last quarter. Millennium Management LLC increased its holdings in Viant Technology by 91.2% during the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company's stock worth $5,177,000 after buying an additional 205,160 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Viant Technology by 6.4% during the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company's stock worth $5,036,000 after buying an additional 22,857 shares during the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Viant Technology Company Profile

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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