Canaccord Genuity Group Upgrades Viant Technology (NASDAQ:DSP) to Buy

Viant Technology (NASDAQ:DSP - Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $18.00 target price on the stock, up from their prior target price of $13.00. Canaccord Genuity Group's price objective suggests a potential upside of 6.64% from the company's previous close.

Separately, Needham & Company LLC reissued a "buy" rating and issued a $12.00 price objective on shares of Viant Technology in a research report on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology has a consensus rating of "Buy" and an average price target of $15.86.

Viant Technology Trading Up 24.9 %

Shares of DSP stock traded up $3.36 during trading hours on Wednesday, hitting $16.88. 584,266 shares of the company were exchanged, compared to its average volume of 122,225. The company has a market capitalization of $1.07 billion, a PE ratio of 276.55 and a beta of 0.72. Viant Technology has a 52 week low of $5.36 and a 52 week high of $16.97. The business has a 50 day moving average of $11.33 and a two-hundred day moving average of $10.46.

Viant Technology (NASDAQ:DSP - Get Free Report) last released 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 business had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. On average, research analysts forecast that Viant Technology will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, CFO Larry Madden sold 3,084 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 538,434 shares of the company's stock, valued at $5,949,695.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 10,419 shares of company stock valued at $116,647 over the last ninety days. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DSP. Allspring Global Investments Holdings LLC purchased a new position in shares of Viant Technology in the second quarter worth about $47,000. FMR LLC raised its stake 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 acquiring an additional 3,123 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Viant Technology during the second quarter worth approximately $84,000. Summit Global Investments purchased a new position in shares of Viant Technology in the second quarter worth $111,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Viant Technology in the second quarter worth $112,000. 11.38% of the stock is owned by 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.