Viant Technology (NASDAQ:DSP) Stock Price Expected to Rise, Craig Hallum Analyst Says

Viant Technology (NASDAQ:DSP) had its price target lifted by equities research analysts at Craig Hallum from $14.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 16.43% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $18.00 in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $18.00 in a report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.86.

Viant Technology Trading Up 0.4 %

NASDAQ:DSP traded up $0.06 during trading hours on Wednesday, reaching $15.46. 56,280 shares of the company traded hands, compared to its average volume of 124,195. Viant Technology has a 1 year low of $5.36 and a 1 year high of $16.97. The business’s 50-day moving average price is $11.55 and its two-hundred day moving average price is $10.53. The stock has a market capitalization of $977.07 million, a P/E ratio of 256.71 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 5.69% and a net margin of 0.47%. The business had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $41.10 million. As a group, equities analysts anticipate that Viant Technology will post -0.37 EPS for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $11.23, for a total value of $31,084.64. Following the completion of the sale, the chief financial officer now owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 10,419 shares of company stock worth $116,647 over the last quarter. 28.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of DSP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Viant Technology during the second quarter worth about $47,000. FMR LLC grew its position 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 purchasing an additional 3,123 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Viant Technology during the second quarter worth about $84,000. Summit Global Investments purchased a new stake in shares of Viant Technology during the second quarter worth about $111,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Viant Technology during the second quarter worth about $112,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.