Viant Technology (NASDAQ:DSP) Upgraded at Raymond James Financial

Key Points

• Viant Technology (NASDAQ:DSP) was upgraded to a strong-buy rating by Raymond James Financial, which set a price target of $20.00, suggesting a potential upside of 34.64% from its previous close.
• Currently, the stock has an average rating of "Buy" from seven analysts, with an average target price of $21.25.
• Recent insider activity includes significant sales from executives, with 30% of the stock being owned by company insiders.

Viant Technology (NASDAQ:DSP - Get Free Report) was upgraded by investment analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued on Thursday, MarketBeat reports. The firm currently has a $20.00 price target on the stock. Raymond James Financial's price target suggests a potential upside of 46.74% from the company's previous close.

Several other equities research analysts have also recently weighed in on DSP. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price objective on shares of Viant Technology in a report on Wednesday, April 2nd. Seven 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 has an average rating of "Buy" and a consensus target price of $21.25.

Viant Technology Trading Down 6.0%

DSP stock traded down $0.87 during midday trading on Thursday, hitting $13.63. The stock had a trading volume of 197,568 shares, compared to its average volume of 174,334. Viant Technology has a 52 week low of $8.70 and a 52 week high of $26.33. The stock has a 50-day simple moving average of $13.60 and a 200 day simple moving average of $15.43. The firm has a market capitalization of $852.83 million, a price-to-earnings ratio of 123.92 and a beta of 1.12.

Insiders Place Their Bets

In other news, CEO Timothy Vanderhook sold 8,960 shares of the stock in a transaction 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 sale, the chief executive officer owned 365,076 shares of the company's stock, valued at $4,775,194.08. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max O. Valdes sold 4,838 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $14.29, for a total value of $69,135.02. Following 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 disclosure for this sale can be found here. In the last three months, insiders have sold 32,125 shares of company stock worth $430,048. Company insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Viant Technology

Large investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its holdings in shares of Viant Technology by 83.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock valued at $30,000 after purchasing an additional 728 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Viant Technology by 287.6% during the 2nd quarter. AlphaQuest LLC now owns 4,640 shares of the company's stock worth $61,000 after buying an additional 3,443 shares during the period. Central Pacific Bank Trust Division acquired a new position in Viant Technology in the 2nd quarter valued at about $75,000. Wells Fargo & Company MN raised its holdings in Viant Technology by 76.3% in the 4th quarter. Wells Fargo & Company MN now owns 8,846 shares of the company's stock valued at $168,000 after acquiring an additional 3,829 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Viant Technology during the fourth quarter worth approximately $193,000. Institutional investors and hedge funds 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.