Viant Technology (NASDAQ:DSP) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Viant Technology (NASDAQ:DSP) in a report published on Tuesday morning,Benzinga reports. They currently have a $21.00 target price on the stock.

DSP has been the subject of several other reports. Craig Hallum lifted their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Scotiabank began coverage on Viant Technology in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective for the company. Canaccord Genuity Group boosted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, JMP Securities boosted their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology currently has an average rating of “Buy” and an average price target of $21.13.

Viant Technology Price Performance

Shares of DSP stock opened at $14.12 on Tuesday. Viant Technology has a 1-year low of $7.77 and a 1-year high of $26.33. The company has a market cap of $887.47 million, a price-to-earnings ratio of 235.37 and a beta of 1.01. The stock’s fifty day moving average price is $20.62 and its 200 day moving average price is $16.23.

Insiders Place Their Bets

In other news, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.76, for a total transaction of $267,967.84. Following the completion of the sale, the chief financial officer now directly owns 358,624 shares in the company, valued at approximately $6,727,786.24. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,068 shares of company stock valued at $752,039 over the last 90 days. 28.80% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Viant Technology by 102.2% during the third quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company’s stock worth $1,069,000 after purchasing an additional 48,826 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Viant Technology by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after acquiring an additional 6,803 shares during the period. Barclays PLC increased its holdings in shares of Viant Technology by 74.7% in the 3rd quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after acquiring an additional 16,784 shares during the period. FMR LLC increased its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares during the period. Finally, State Street Corp increased its holdings in shares of Viant Technology by 0.6% in the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after acquiring an additional 1,722 shares during the period. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Company Profile

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.