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

Viant Technology Inc. (NASDAQ:DSP) has received an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.3333.

A number of equities research analysts have issued reports on DSP shares. UBS Group upped their price target on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Viant Technology from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. DA Davidson raised their target price on Viant Technology from $16.50 to $17.50 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp lifted their price target on Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 11th.

Viant Technology Trading Up 18.6%

NASDAQ:DSP opened at $11.88 on Friday. The firm has a market capitalization of $789.66 million, a PE ratio of 38.32 and a beta of 1.13. Viant Technology has a 1 year low of $8.11 and a 1 year high of $14.80. The firm’s fifty day simple moving average is $12.42 and its 200 day simple moving average is $11.73.

Insider Activity

In other news, CFO Larry Madden sold 14,602 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $12.10, for a total value of $176,684.20. Following the sale, the chief financial officer owned 342,711 shares in the company, valued at approximately $4,146,803.10. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 92,428 shares of company stock valued at $1,168,392 in the last 90 days. Company insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its holdings in Viant Technology by 16.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Viant Technology during the 2nd quarter worth approximately $1,316,000. Norwood Investment Partners LP bought a new stake in shares of Viant Technology during the fourth quarter valued at approximately $1,186,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Viant Technology in the fourth quarter valued at $873,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Viant Technology

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
• Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
• Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing

About Viant Technology

Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.