Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume Following Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares saw an uptick in 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 mid-day 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.

A number of other equities research analysts have also commented on DSP. Craig Hallum raised their price objective 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 raised shares of Viant Technology from a "hold" rating to a "buy" rating and raised their target price for the company from $13.00 to $18.00 in a research report on Wednesday. Canaccord Genuity Group raised shares of Viant Technology from a "hold" rating to a "buy" rating and raised their target price for the company from $13.00 to $18.00 in a research report on Wednesday. Finally, JMP Securities raised their target price on shares of Viant Technology from $12.00 to $17.00 and gave the company a "market outperform" rating in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $15.86.

Insider Activity

In related 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 transaction of $31,084.64. Following the completion of the sale, the chief financial officer now owns 529,848 shares of the company's stock, valued at approximately $5,950,193.04. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 10,419 shares of company stock valued at $116,647 in the last quarter. Company insiders own 28.80% of the company's stock.

Institutional Trading of Viant Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Viant Technology in the 2nd quarter worth about $47,000. FMR LLC raised its stake in Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company's stock worth $79,000 after purchasing an additional 3,123 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology in the 2nd quarter worth about $84,000. Summit Global Investments acquired a new stake in Viant Technology in the 2nd quarter worth about $111,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Viant Technology in the 2nd quarter valued at approximately $112,000. Institutional investors own 11.38% of the company's stock.

Viant Technology Trading Down 6.4 %

The firm's 50-day moving average price is $11.45 and its 200 day moving average price is $10.50. The company 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 - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.19) 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 analyst estimates of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. As a group, equities research analysts anticipate that Viant Technology Inc. will post -0.37 earnings per share for the current fiscal year.

Viant Technology Company Profile

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.