Viant Technology (NASDAQ:DSP) Price Target Lowered to $19.00 at Raymond James Financial

Key Points

• Analysts at Raymond James Financial have lowered their price target for Viant Technology from $20.00 to $19.00, maintaining a "strong-buy" rating.
• Despite the price drop, the stock's potential upside is estimated at 58.33% based on the previous close.
• Insider trading includes significant share sales by both Director Max O. Valdes and CEO Timothy Vanderhook, indicating a decrease in their positions with notable transactions reported.

Viant Technology (NASDAQ:DSP - Free Report) had its price objective lowered by Raymond James Financial from $20.00 to $19.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

Separately, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Viant Technology in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $20.38.

Viant Technology Price Performance

Shares of DSP traded down $0.39 during midday trading on Tuesday, hitting $9.53. The stock had a trading volume of 623,053 shares, compared to its average volume of 279,229. The stock's 50 day moving average is $13.26 and its 200 day moving average is $14.97. The firm has a market cap of $596.29 million, a PE ratio of 73.31 and a beta of 1.12. Viant Technology has a 1 year low of $9.22 and a 1 year high of $26.33.

Insiders Place Their Bets

In other Viant Technology news, CEO Timothy Vanderhook sold 8,960 shares of the stock in a transaction dated 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 represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Larry Madden sold 13,265 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 approximately $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 a total of 32,125 shares of company stock worth $430,048 in the last three months. Corporate insiders own 29.40% of the company's stock.

Institutional Trading of Viant Technology

Several hedge funds have recently modified their holdings of DSP. Summit Investment Advisors Inc. lifted its position in shares of Viant Technology by 83.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock valued at $30,000 after buying an additional 728 shares during the last quarter. AlphaQuest LLC raised its position in shares of Viant Technology by 287.6% in the 2nd quarter. AlphaQuest LLC now owns 4,640 shares of the company's stock valued at $61,000 after purchasing an additional 3,443 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Viant Technology in the 2nd quarter valued at approximately $75,000. Corton Capital Inc. purchased a new position in shares of Viant Technology in the 2nd quarter valued at approximately $150,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Viant Technology in the 2nd quarter valued at approximately $166,000. 11.38% of the stock is owned by hedge funds and other 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.