Viant Technology (NASDAQ:DSP) Stock Rating Upgraded by Canaccord Genuity Group

Viant Technology (NASDAQ:DSP) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $18.00 price objective on the stock, up from their prior price objective of $13.00. Canaccord Genuity Group’s target price indicates a potential upside of 33.14% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Viant Technology in a report on Tuesday, August 13th. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $18.00 in a report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.00.

Viant Technology Stock Performance

Shares of DSP stock opened at $13.52 on Wednesday. The stock has a fifty day simple moving average of $11.33 and a two-hundred day simple moving average of $10.46. Viant Technology has a 52-week low of $5.36 and a 52-week high of $13.83. The firm has a market capitalization of $854.46 million, a PE ratio of -270.40 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The firm had revenue of $41.56 million for the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a negative net margin of 0.33% and a negative return on equity of 7.39%. On average, sell-side analysts forecast that Viant Technology will post -0.37 EPS for the current fiscal year.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $11.23, for a total value of $31,084.64. Following the transaction, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 10,419 shares of company stock worth $116,647 in the last 90 days. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DSP. Allspring Global Investments Holdings LLC purchased a new position in Viant Technology in the second quarter worth $47,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Viant Technology during the second quarter worth about $84,000. Victory Capital Management Inc. purchased a new position in shares of Viant Technology in the third quarter valued at approximately $122,000. Summit Global Investments purchased a new stake in shares of Viant Technology during the second quarter worth $111,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Viant Technology in the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.