Viant Technology Inc. (NASDAQ:DSP) Receives Average Recommendation of “Buy” from Brokerages

Shares of Viant Technology Inc. (NASDAQ:DSP) have been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $17.75.

Several analysts have commented on the stock. Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 target price for the company. JMP Securities boosted their price objective on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Needham & Company LLC boosted their price objective on shares of Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Craig Hallum boosted their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Insider Activity at Viant Technology

In other news, Director Max O. Valdes sold 7,500 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now owns 63,452 shares in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Larry Madden sold 2,768 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,034 shares of company stock worth $2,175,409 in the last ninety days. 28.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently made changes to their positions in DSP. Allspring Global Investments Holdings LLC bought a new stake in shares of Viant Technology in the 2nd quarter worth about $47,000. FMR LLC grew its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after purchasing an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Viant Technology in the 2nd quarter worth about $84,000. Mackenzie Financial Corp bought a new stake in shares of Viant Technology in the 2nd quarter worth about $112,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Viant Technology in the 3rd quarter worth about $122,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Stock Down 2.0 %

DSP stock opened at $18.98 on Thursday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 316.39 and a beta of 0.98. Viant Technology has a 12 month low of $6.50 and a 12 month high of $21.74. The firm has a 50 day moving average of $17.75 and a two-hundred day moving average of $13.20.

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.