JMP Securities Issues Pessimistic Forecast for Viant Technology (NASDAQ:DSP) Stock Price

Viant Technology (NASDAQ:DSP) had its price objective reduced by JMP Securities from $24.00 to $18.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Viant Technology in a report on Wednesday, May 7th. Raymond James Financial reduced their target price on Viant Technology from $20.00 to $19.00 and set a “strong-buy” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Viant Technology presently has a consensus rating of “Buy” and an average price target of $20.38.

Viant Technology Stock Down 18.8%

DSP stock opened at $9.74 on Tuesday. The firm has a market capitalization of $609.43 million, a PE ratio of 74.93 and a beta of 1.12. Viant Technology has a twelve month low of $8.70 and a twelve month high of $26.33. The stock has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $15.08.

Insider Buying and Selling

In related news, 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 value of $117,196.80. Following the transaction, the chief executive officer directly owned 365,076 shares in the company, valued at approximately $4,775,194.08. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Max O. Valdes sold 5,062 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.87, for a total transaction of $70,209.94. Following the completion of the transaction, the director owned 26,429 shares in the company, valued at approximately $366,570.23. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,125 shares of company stock worth $430,048. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in Viant Technology by 2.4% in the second quarter. Rhumbline Advisers now owns 45,042 shares of the company’s stock worth $596,000 after buying an additional 1,056 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Viant Technology by 4.3% in the second quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock worth $359,000 after buying an additional 1,109 shares in the last quarter. Geode Capital Management LLC boosted its stake in Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after buying an additional 22,857 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Viant Technology by 12.1% in the second quarter. Acadian Asset Management LLC now owns 149,811 shares of the company’s stock worth $1,980,000 after buying an additional 16,205 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in Viant Technology in the second quarter worth approximately $150,000. 11.38% of the stock is currently 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.