Viant Technology (NASDAQ:DSP) Upgraded to Buy at Wall Street Zen

Key Points

• Viant Technology has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the company.
• Several analysts have adjusted their price targets for Viant Technology, with the consensus price target now at $19.78.
• Insider trading activity shows that key executives have sold shares, with CEO Timothy Vanderhook and CFO Larry Madden reducing their ownership percentages recently.

Wall Street Zen upgraded shares of Viant Technology (NASDAQ:DSP - Free Report) from a hold rating to a buy rating in a research report released on Saturday.

DSP has been the topic of several other reports. JMP Securities lowered their price objective on Viant Technology from $24.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Tuesday, August 12th. Raymond James Financial lowered their price target on Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating on the stock in a report on Tuesday, August 12th. Canaccord Genuity Group dropped their price objective on Viant Technology from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a research report on Tuesday, August 12th. Finally, DA Davidson assumed coverage on shares of Viant Technology in a research note on Friday, August 29th. They set a "buy" rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $19.78.

Viant Technology Stock Performance

Shares of NASDAQ:DSP traded up $0.02 during trading on Friday, reaching $10.06. 114,674 shares of the stock traded hands, compared to its average volume of 344,537. The stock has a market cap of $633.28 million, a P/E ratio of 77.39 and a beta of 1.10. The stock has a 50-day moving average of $12.25 and a two-hundred day moving average of $13.59. Viant Technology has a 52-week low of $9.07 and a 52-week high of $26.33.

Insider Buying and Selling at Viant Technology

In other news, Director Max O. Valdes sold 4,838 shares of the company's stock in a transaction dated Friday, June 6th. The shares were 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 of the company's stock, valued at $308,535.39. This represents a 18.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Larry Madden sold 13,265 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $13.08, for a total transaction of $173,506.20. Following the completion of the transaction, the chief financial officer owned 436,261 shares in the company, valued at $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 sold a total of 27,063 shares of company stock worth $359,838 in the last three months. 29.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DSP. Rhumbline Advisers grew its stake in shares of Viant Technology by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 45,042 shares of the company's stock valued at $596,000 after acquiring an additional 1,056 shares during the period. JPMorgan Chase & Co. raised its holdings in Viant Technology by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company's stock valued at $359,000 after acquiring an additional 1,109 shares during the period. Huntleigh Advisors Inc. lifted its position in shares of Viant Technology by 5.8% in the second quarter. Huntleigh Advisors Inc. now owns 23,708 shares of the company's stock valued at $314,000 after acquiring an additional 1,290 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Viant Technology by 4.9% in the first quarter. Martingale Asset Management L P now owns 28,353 shares of the company's stock worth $352,000 after acquiring an additional 1,337 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Viant Technology by 7.0% in the first quarter. Mackenzie Financial Corp now owns 29,347 shares of the company's stock worth $364,000 after acquiring an additional 1,921 shares during the period. 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.