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

Viant Technology (NASDAQ:DSP) had its target price lifted by analysts at JMP Securities from $12.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 2.22% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Viant Technology in a research note on Tuesday, August 13th. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $18.00 in a research note on Wednesday. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $18.00 in a research report on Wednesday. Finally, Craig Hallum raised their price objective on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

Shares of DSP traded up $3.11 on Wednesday, reaching $16.63. The stock had a trading volume of 475,032 shares, compared to its average volume of 121,845. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 276.55 and a beta of 0.72. The company has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $10.46. Viant Technology has a 12-month low of $5.36 and a 12-month high of $16.97.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The firm had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. On average, analysts expect that Viant Technology will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Larry Madden sold 2,768 shares of Viant Technology stock in a transaction on Friday, October 11th. The stock was sold at an average price of $11.23, for a total value of $31,084.64. Following the completion of the sale, the chief financial officer now owns 529,848 shares of the company’s stock, valued at $5,950,193.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 10,419 shares of company stock valued at $116,647. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Several large investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in Viant Technology by 5,286.9% during the second quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after acquiring an additional 66,509 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after buying an additional 20,668 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Viant Technology during the second quarter valued at approximately $1,387,000. Acadian Asset Management LLC grew its stake in shares of Viant Technology by 659.4% during the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after buying an additional 123,635 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Viant Technology during the second quarter valued at approximately $84,000. 11.38% of the stock is owned by 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.