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

Key Points

• Viant Technology's stock received a reaffirmed "buy" rating from Rosenblatt Securities, with a price target of $20.00, indicating a potential upside of 101.61% from its previous close.
• Several analysts, including Canaccord Genuity and JMP Securities, have adjusted their target prices downwards for Viant Technology, reflecting increased caution in the market.
• Insider trading activity shows that key executives sold shares recently, with the CFO selling 13,265 shares, which may indicate a shift in confidence regarding the stock's outlook.

Rosenblatt Securities reiterated their buy rating on shares of Viant Technology (NASDAQ:DSP - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

DSP has been the subject of several other reports. Canaccord Genuity Group cut their target price on shares of Viant Technology from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. JMP Securities cut their target price on shares of Viant Technology from $24.00 to $18.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Raymond James Financial cut their target price on shares of Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating for the company in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.38.

Viant Technology Trading Up 2.4%

DSP stock traded up $0.23 on Tuesday, hitting $9.73. 373,659 shares of the company's stock traded hands, compared to its average volume of 324,010. Viant Technology has a 1-year low of $9.22 and a 1-year high of $26.33. The stock has a market cap of $608.81 million, a price-to-earnings ratio of 74.85 and a beta of 1.12. The stock has a fifty day moving average of $13.16 and a 200-day moving average of $14.79.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, Director Max O. Valdes sold 5,062 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $13.87, for a total value of $70,209.94. Following the transaction, the director owned 26,429 shares in the company, valued at approximately $366,570.23. This represents a 16.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $117,196.80. Following the completion of the transaction, the chief executive officer owned 365,076 shares in the company, valued at approximately $4,775,194.08. This represents a 2.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,125 shares of company stock worth $430,048. 28.80% of the stock is currently owned by company insiders.

Institutional Trading of Viant Technology

A number of hedge funds have recently bought and sold shares of the stock. Summit Investment Advisors Inc. grew its position in Viant Technology by 83.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock worth $30,000 after purchasing an additional 728 shares during the last quarter. AlphaQuest LLC lifted 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 acquiring an additional 3,443 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Viant Technology during the 2nd quarter worth about $75,000. Corton Capital Inc. bought a new position in shares of Viant Technology during the 2nd quarter worth about $150,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Viant Technology during the 2nd quarter worth about $166,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Company Profile

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.