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

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

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

Viant Technology Price Performance

Shares of DSP opened at $16.46 on Wednesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 274.38 and a beta of 0.72. Viant Technology has a 1-year low of $5.36 and a 1-year high of $16.97. The company has a 50-day moving average of $11.45 and a 200 day moving average of $10.50.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data 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). The firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a negative return on equity of 5.69% and a net margin of 0.47%. On average, equities analysts anticipate that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the sale, the chief financial officer now directly owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 10,419 shares of company stock valued at $116,647. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its position in Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares during the last quarter. Quadrature Capital Ltd lifted its stake in shares of Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after buying an additional 20,668 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of Viant Technology during the second quarter valued at $1,387,000. Acadian Asset Management LLC increased 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. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Viant Technology in the 2nd quarter worth $84,000. 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.