Viant Technology (NASDAQ:DSP) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Viant Technology Inc. (NASDAQ:DSP) saw unusually-strong 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. Approximately 76,110 shares were traded during 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.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Wednesday. JMP Securities upped their target price on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, Craig Hallum upped their target price on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.86.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at approximately $5,950,193.04. This represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in Viant Technology by 5,286.9% in the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Viant Technology in the 2nd quarter worth approximately $1,387,000. Acadian Asset Management LLC lifted its stake in Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after purchasing an additional 123,635 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Viant Technology in the 2nd quarter worth approximately $84,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

Viant Technology Stock Performance

The firm has a market capitalization of $973.28 million, a PE ratio of 252.71 and a beta of 0.72. The company’s 50 day simple moving average is $11.45 and its 200-day simple moving average is $10.50.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) 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 firm had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $41.10 million. On average, equities research analysts forecast 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.