Viant Technology (NASDAQ:DSP) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Viant Technology (NASDAQ:DSP) from a hold rating to a buy rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Canaccord Genuity Group currently has $18.00 price target on the stock, up from their previous price target of $13.00.

Several other brokerages have also commented on DSP. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $18.00 in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.86.

Viant Technology Stock Performance

Shares of Viant Technology stock traded down $0.86 during trading hours on Wednesday, hitting $15.60. The company’s stock had a trading volume of 77,839 shares, compared to its average volume of 122,694. The firm has a fifty day moving average of $11.45 and a 200-day moving average of $10.50. The stock has a market cap of $985.92 million, a price-to-earnings ratio of 256.71 and a beta of 0.72. Viant Technology has a twelve month low of $5.36 and a twelve month high of $16.97.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. The company had revenue of $41.56 million during the quarter, compared to analyst estimates of $41.10 million. On average, sell-side analysts expect that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 10,419 shares of company stock worth $116,647. Corporate insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of large investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after buying an additional 20,668 shares during the period. ClariVest Asset Management LLC acquired a new position in shares of Viant Technology during the second quarter worth about $1,387,000. Acadian Asset Management LLC increased its stake in shares of Viant Technology by 659.4% during the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after buying an additional 123,635 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology in the second quarter valued at approximately $84,000. Hedge funds and other institutional investors 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.