Viant Technology (NASDAQ:DSP) Upgraded at DA Davidson

DA Davidson upgraded shares of Viant Technology (NASDAQ:DSP) to a strong-buy rating in a research report sent to investors on Monday,Zacks reports.

Other equities analysts have also issued reports about the stock. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. UBS Group increased their target price on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Citizens Jmp raised their price target on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen raised shares of Viant Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $18.33.

Viant Technology Stock Up 7.1%

Shares of DSP opened at $12.78 on Monday. The business’s 50-day moving average price is $12.59 and its 200-day moving average price is $11.85. Viant Technology has a twelve month low of $8.11 and a twelve month high of $14.80. The stock has a market cap of $849.49 million, a PE ratio of 41.23 and a beta of 1.11.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 27,451 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. This represents a 6.45% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,909 shares of company stock worth $778,642 over the last ninety days. 29.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after purchasing an additional 1,855 shares during the last quarter. Squarepoint Ops LLC boosted its position in Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock valued at $501,000 after buying an additional 3,207 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Viant Technology during the first quarter valued at about $97,000. Quantinno Capital Management LP grew its stake in shares of Viant Technology by 81.6% during the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock valued at $699,000 after buying an additional 28,052 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Viant Technology in the first quarter worth about $320,000. 11.38% of the stock is currently owned by institutional investors.

About Viant Technology

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

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.