Wall Street Zen Downgrades Viant Technology (NASDAQ:DSP) to Hold

Key Points

• Viant Technology (NASDAQ:DSP) has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating.
• Analysts have varied price objectives for Viant Technology, with Canaccord Genuity lowering its target from $24.00 to $22.00, while others remain optimistic with ratings between "buy" and "market outperform."
• Insider trading activity has been noted, with COO Christopher Vanderhook and CFO Larry Madden both selling shares, indicating a 2.41% and 2.98% decrease in their holdings, respectively.

Viant Technology (NASDAQ:DSP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities analysts also recently commented on DSP. Canaccord Genuity Group cut their price objective on shares of Viant Technology from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. B. Riley began coverage on shares of Viant Technology in a research report on Tuesday. They set a "buy" rating and a $14.50 price objective for the company. DA Davidson began coverage on shares of Viant Technology in a research report on Friday, August 29th. They set a "buy" rating and a $15.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a research report on Tuesday, August 12th. Finally, JMP Securities cut their price target on shares of Viant Technology from $24.00 to $18.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $19.25.

Viant Technology Stock Performance

Shares of Viant Technology stock opened at $9.15 on Friday. The company has a market cap of $575.99 million, a P/E ratio of 70.39 and a beta of 1.06. Viant Technology has a one year low of $8.11 and a one year high of $26.33. The firm has a fifty day moving average of $9.23 and a two-hundred day moving average of $12.05.

Insider Activity

In other Viant Technology news, COO Christopher Vanderhook sold 8,782 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $85,448.86. Following the completion of the transaction, the chief operating officer directly owned 356,284 shares in the company, valued at approximately $3,466,643.32. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Larry Madden sold 13,006 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $126,548.38. Following the transaction, the chief financial officer owned 423,255 shares of the company's stock, valued at $4,118,271.15. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently added to or reduced their stakes in the business. Moran Wealth Management LLC increased its holdings in Viant Technology by 19.9% during the 3rd quarter. Moran Wealth Management LLC now owns 41,205 shares of the company's stock valued at $356,000 after acquiring an additional 6,849 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Viant Technology during the 3rd quarter worth about $31,000. Osaic Holdings Inc. boosted its stake in shares of Viant Technology by 7.5% during the 2nd quarter. Osaic Holdings Inc. now owns 94,938 shares of the company's stock worth $1,256,000 after purchasing an additional 6,648 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of Viant Technology during the 2nd quarter worth about $1,323,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Viant Technology by 35.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 96,597 shares of the company's stock worth $1,278,000 after purchasing an additional 25,514 shares during the last quarter. 11.38% of the stock is currently owned by hedge funds and other 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.

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