Viant Technology (NASDAQ:DSP) Upgraded to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Viant Technology (NASDAQ:DSP) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $18.00 target price on the stock, up from their prior target price of $13.00.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of Viant Technology in a research report on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Viant Technology presently has an average rating of “Buy” and an average target price of $15.86.

Viant Technology Stock Performance

DSP opened at $16.46 on Wednesday. The stock has a market capitalization of $1.04 billion, a PE ratio of 274.38 and a beta of 0.72. The stock’s 50 day moving average price is $11.45 and its 200-day moving average price is $10.50. Viant Technology has a 52-week low of $5.36 and a 52-week high of $16.97.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. The company had revenue of $41.56 million for the quarter, compared to analysts’ expectations of $41.10 million. Research analysts forecast 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 shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 10,419 shares of company stock worth $116,647. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC raised its stake in Viant Technology by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after purchasing an additional 2,915 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Viant Technology by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company’s stock worth $1,769,000 after buying an additional 6,064 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Viant Technology by 659.4% during the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after buying an additional 123,635 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of Viant Technology in the 2nd quarter worth about $1,387,000. Finally, Quadrature Capital Ltd raised its position in Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.