Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 492,200 shares, a decrease of 21.9% from the October 15th total of 630,200 shares. Based on an average daily volume of 83,400 shares, the short-interest ratio is currently 5.9 days. Approximately 3.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC upped their target price on shares of Viant Technology from $12.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday. JMP Securities increased their price target on Viant Technology from $12.00 to $17.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Craig Hallum increased their target price on shares of Viant Technology from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday. Canaccord Genuity Group upgraded shares of 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 research note on Wednesday. Finally, Canaccord Genuity Group raised Viant Technology from a "hold" rating to a "buy" rating and raised their price objective for the company from $13.00 to $18.00 in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology presently has an average rating of "Buy" and a consensus price target of $15.86.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the sale, the chief financial officer now directly owns 538,434 shares of the company's stock, valued at $5,949,695.70. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 10,419 shares of company stock worth $116,647 in the last three months. Corporate insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently bought and sold shares of DSP. Allspring Global Investments Holdings LLC acquired a new stake in shares of Viant Technology in the second quarter worth approximately $47,000. FMR LLC grew its stake in Viant Technology by 77.9% during 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Viant Technology in the 2nd quarter worth approximately $84,000. Summit Global Investments acquired a new position in shares of Viant Technology during the 2nd quarter worth approximately $111,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Viant Technology in the second quarter valued at approximately $112,000. Institutional investors and hedge funds own 11.38% of the company's stock.

Viant Technology Price Performance

NASDAQ:DSP traded up $0.81 during midday trading on Friday, hitting $16.21. The company's stock had a trading volume of 273,655 shares, compared to its average volume of 125,237. Viant Technology has a fifty-two week low of $5.36 and a fifty-two week high of $16.97. The firm's 50 day moving average is $11.55 and its 200-day moving average is $10.53. The firm has a market cap of $1.02 billion, a P/E ratio of 262.00 and a beta of 0.72.

Viant Technology (NASDAQ:DSP - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. The company had revenue of $41.56 million for the quarter, compared to analysts' expectations of $41.10 million. As a group, analysts forecast that Viant Technology 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.