Viant Technology (NASDAQ:DSP) Stock Rating Upgraded by Canaccord Genuity Group

Viant Technology (NASDAQ:DSP) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $18.00 price objective on the stock, up from their prior price objective of $13.00. Canaccord Genuity Group’s price target would indicate a potential upside of 16.88% from the stock’s current price.

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

Viant Technology Trading Down 6.4 %

Shares of Viant Technology stock opened at $15.40 on Wednesday. The firm has a fifty day simple moving average of $11.45 and a 200-day simple moving average of $10.50. Viant Technology has a 1-year low of $5.36 and a 1-year high of $16.97. The stock has a market capitalization of $973.28 million, a price-to-earnings ratio of 252.71 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 5.69% and a net margin of 0.47%. The firm had revenue of $41.56 million during the quarter, compared to analyst estimates of $41.10 million. As a group, research analysts predict that Viant Technology will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total value of $34,078.20. Following the sale, the chief financial officer now owns 538,434 shares of the company’s stock, valued at $5,949,695.70. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 10,419 shares of company stock valued at $116,647. 28.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Several large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC grew its holdings in shares of Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after purchasing an additional 2,915 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Viant Technology by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company’s stock valued at $1,769,000 after purchasing an additional 6,064 shares during the period. Acadian Asset Management LLC raised its position in shares of Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after acquiring an additional 123,635 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of Viant Technology in the 2nd quarter valued at approximately $1,387,000. Finally, Quadrature Capital Ltd raised its position in shares of Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after acquiring an additional 20,668 shares during the period. Institutional investors 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.