Viant Technology (NASDAQ:DSP) Shares Gap Down on Analyst Downgrade

Viant Technology Inc. (NASDAQ:DSP - Get Free Report)'s share price gapped down before the market opened on Tuesday after Raymond James lowered their price target on the stock from $30.00 to $27.00. The stock had previously closed at $19.75, but opened at $13.59. Raymond James currently has an outperform rating on the stock. Viant Technology shares last traded at $14.04, with a volume of 472,507 shares.

DSP has been the topic of several other reports. Canaccord Genuity Group raised shares of Viant Technology from a "hold" rating to a "buy" rating and increased their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the company a "buy" rating in a report on Monday, December 2nd. JMP Securities raised their price target on shares of Viant Technology from $17.00 to $24.00 and gave the company a "market outperform" rating in a research report on Monday, January 27th. Craig Hallum lifted their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a "buy" rating and issued a $21.00 price objective on shares of Viant Technology in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.43.

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Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total value of $330,246.08. Following the sale, the chief financial officer now owns 344,340 shares of the company's stock, valued at $7,961,140.80. This trade represents a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Viant Technology

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Viant Technology by 102.2% in the third quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company's stock worth $1,069,000 after buying an additional 48,826 shares during the period. Geode Capital Management LLC raised its position in shares of Viant Technology by 1.9% in the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company's stock valued at $4,045,000 after purchasing an additional 6,803 shares during the period. Barclays PLC raised its position in shares of Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company's stock valued at $435,000 after purchasing an additional 16,784 shares during the period. FMR LLC increased its position in 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 during the period. Finally, State Street Corp raised its position in shares of Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company's stock valued at $3,137,000 after buying an additional 1,722 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company's stock.

Viant Technology Stock Down 2.6 %

The firm has a market capitalization of $922.04 million, a price-to-earnings ratio of 244.54 and a beta of 1.02. The business has a 50-day moving average of $20.32 and a two-hundred day moving average of $16.28.

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.