DA Davidson Begins Coverage on Viant Technology (NASDAQ:DSP)

Key Points

• DA Davidson has assumed coverage of Viant Technology (NASDAQ:DSP) with a buy rating and a price target of $15.00, indicating a potential upside of 49.55% from current levels.
• Multiple analysts have varying price targets, with Rosenblatt Securities at $20.00 and Raymond James at $19.00, while the stock currently has an average target price of $19.78.
• Recent insider trading includes significant sales by the CFO and a director, with a total of 32,125 shares sold over the past 90 days.

DA Davidson assumed coverage on shares of Viant Technology (NASDAQ:DSP - Free Report) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $15.00 target price on the stock.

A number of other research firms have also recently issued reports on DSP. Canaccord Genuity Group cut their price target on Viant Technology from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a research report on Tuesday, August 12th. JMP Securities reduced their price objective on shares of Viant Technology from $24.00 to $18.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Finally, Raymond James Financial reduced their price objective on shares of Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating for the company in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, Viant Technology has a consensus rating of "Buy" and a consensus price target of $19.78.

Viant Technology Stock Down 0.7%

DSP traded down $0.08 during midday trading on Friday, hitting $10.10. 67,073 shares of the company were exchanged, compared to its average volume of 320,209. The firm has a market capitalization of $635.48 million, a P/E ratio of 77.93 and a beta of 1.10. Viant Technology has a 1-year low of $9.07 and a 1-year high of $26.33. The firm's 50 day moving average price is $12.38 and its 200-day moving average price is $13.71.

Insiders Place Their Bets

In other news, Director Max O. Valdes sold 4,838 shares of the company'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 value of $69,135.02. Following the completion of the transaction, the director directly owned 21,591 shares of the company's stock, valued at $308,535.39. This represents a 18.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy Vanderhook sold 8,960 shares of the company'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 value of $117,196.80. Following the completion of the transaction, the chief executive officer directly owned 365,076 shares of the company's stock, valued at approximately $4,775,194.08. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,125 shares of company stock valued at $430,048. Corporate insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of the company. AlphaQuest LLC lifted its position in shares of Viant Technology by 287.6% during the second quarter. AlphaQuest LLC now owns 4,640 shares of the company's stock worth $61,000 after acquiring an additional 3,443 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Viant Technology during the second quarter worth $75,000. Corton Capital Inc. purchased a new stake in shares of Viant Technology during the second quarter worth $150,000. Envestnet Asset Management Inc. purchased a new stake in shares of Viant Technology during the second quarter worth $166,000. Finally, Wells Fargo & Company MN lifted its position in shares of Viant Technology by 76.3% during the fourth quarter. Wells Fargo & Company MN now owns 8,846 shares of the company's stock worth $168,000 after acquiring an additional 3,829 shares in the last quarter. 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.