Viant Technology (NASDAQ:DSP) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Viant Technology Inc. (NASDAQ:DSP) saw strong trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $12.00 to $18.00. Needham & Company LLC currently has a buy rating on the stock. 76,110 shares traded hands during trading, a decline of 38% from the previous session’s volume of 122,610 shares.The stock last traded at $15.40 and had previously closed at $16.46.

Several other analysts have also recently weighed in on the stock. Craig Hallum upped their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. JMP Securities upped their target price on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and a consensus target price of $15.86.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of Viant Technology stock in a transaction dated Friday, October 11th. The shares were 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 in the company, valued at $5,950,193.04. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Viant Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Viant Technology during the 2nd quarter valued at approximately $47,000. FMR LLC boosted its position in Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after buying an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology during the 2nd quarter worth approximately $84,000. Summit Global Investments acquired a new stake in Viant Technology during the 2nd quarter worth approximately $111,000. Finally, Mackenzie Financial Corp acquired a new stake in Viant Technology during the 2nd quarter worth approximately $112,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Trading Down 6.4 %

The firm’s 50-day moving average is $11.45 and its 200 day moving average is $10.50. The firm 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 released its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The company had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. Analysts predict that Viant Technology Inc. will post -0.37 EPS for the current year.

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.