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

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

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

Viant Technology Stock Performance

Viant Technology stock traded up $3.11 during mid-day trading on Wednesday, reaching $16.63. 475,032 shares of the company were exchanged, compared to its average volume of 121,845. The business has a fifty day moving average of $11.33 and a 200 day moving average of $10.46. The firm has a market cap of $1.05 billion, a P/E ratio of 276.55 and a beta of 0.72. Viant Technology has a 12-month low of $5.36 and a 12-month high of $16.97.

Viant Technology (NASDAQ:DSP) last posted its earnings results 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). The company had revenue of $41.56 million for the quarter, compared to analysts’ expectations of $41.10 million. Viant Technology had a negative return on equity of 5.69% and a net margin of 0.47%. Sell-side analysts predict that Viant Technology will post -0.37 EPS for the current year.

Insider Activity

In other news, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction that occurred 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 directly owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 10,419 shares of company stock worth $116,647 over the last ninety days. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC grew its position in Viant Technology by 3.8% in the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock worth $458,000 after acquiring an additional 1,562 shares during the period. Rhumbline Advisers boosted its position in shares of Viant Technology by 5.1% during the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock worth $419,000 after buying an additional 2,070 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of Viant Technology by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after buying an additional 2,915 shares during the period. FMR LLC boosted its position in shares of Viant Technology by 77.9% during the third 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. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Viant Technology during the second quarter worth $47,000. 11.38% of the stock is currently owned by hedge funds and other 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.