Viant Technology (NASDAQ:DSP) Raised to “Strong-Buy” at DA Davidson

Viant Technology (NASDAQ:DSP) was upgraded by equities researchers at DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities research analysts also recently weighed in on DSP. Rosenblatt Securities lifted their target price on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Citizens Jmp increased their price target on Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Viant Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $18.33.

Viant Technology Price Performance

Shares of NASDAQ:DSP opened at $11.93 on Monday. The company has a market capitalization of $792.99 million, a price-to-earnings ratio of 38.48 and a beta of 1.11. The business’s 50-day moving average is $12.56 and its 200-day moving average is $11.84. Viant Technology has a 1 year low of $8.11 and a 1 year high of $14.80.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 14,602 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $12.10, for a total value of $176,684.20. Following the transaction, the chief financial officer owned 342,711 shares of the company’s stock, valued at approximately $4,146,803.10. This trade represents a 4.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 61,909 shares of company stock valued at $778,642. Corporate insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. lifted its holdings in shares of Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after purchasing an additional 190,248 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Viant Technology during the second quarter valued at approximately $1,316,000. Norwood Investment Partners LP bought a new stake in Viant Technology during the fourth quarter worth $1,186,000. Quantinno Capital Management LP grew its holdings in Viant Technology by 81.6% during the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after buying an additional 28,052 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Viant Technology in the 2nd quarter valued at $609,000. 11.38% of the stock is owned by institutional investors.

About Viant Technology

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.