B. Riley Initiates Coverage on Viant Technology (NASDAQ:DSP)

Analysts at B. Riley began coverage on shares of Viant Technology (NASDAQ:DSP) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $14.50 price target on the stock. B. Riley’s price target would suggest a potential upside of 68.02% from the company’s previous close.

Several other analysts have also recently issued reports on DSP. Raymond James Financial lowered their price objective on shares of Viant Technology from $20.00 to $19.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 12th. Canaccord Genuity Group lowered their price target on Viant Technology from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. DA Davidson assumed coverage on Viant Technology in a research note on Friday, August 29th. They set a “buy” rating and a $15.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Tuesday, August 12th. Finally, JMP Securities decreased their target price on 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 equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.25.

Viant Technology Stock Performance

Viant Technology stock opened at $8.63 on Tuesday. Viant Technology has a 1 year low of $8.11 and a 1 year high of $26.33. The firm has a 50 day moving average price of $9.25 and a 200 day moving average price of $12.09. The company has a market cap of $543.26 million, a price-to-earnings ratio of 66.39 and a beta of 1.06.

Insider Activity at Viant Technology

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

Hedge Funds Weigh In On Viant Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. grew its position in shares of Viant Technology by 37.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company’s stock worth $12,283,000 after buying an additional 267,326 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Viant Technology during the 2nd quarter valued at $8,443,000. Granite Investment Partners LLC acquired a new position in Viant Technology during the 2nd quarter worth $7,239,000. Harbor Capital Advisors Inc. increased its position in shares of Viant Technology by 30.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 404,895 shares of the company’s stock worth $5,357,000 after purchasing an additional 93,330 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Viant Technology by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock valued at $5,036,000 after purchasing an additional 22,857 shares in the last quarter. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.