Needham & Company LLC Forecasts Strong Price Appreciation for Viant Technology (NASDAQ:DSP) Stock

Viant Technology (NASDAQ:DSP) had its price target upped by Needham & Company LLC from $12.00 to $18.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research 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 raised their target price for the stock from $13.00 to $18.00 in a report on Wednesday. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $18.00 in a research note on Wednesday. Craig Hallum upped their price objective on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JMP Securities lifted their target price on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.86.

Viant Technology Stock Up 1.0 %

Shares of Viant Technology stock opened at $16.62 on Wednesday. Viant Technology has a 52 week low of $5.36 and a 52 week high of $16.97. The stock’s 50-day simple moving average is $11.45 and its 200-day simple moving average is $10.50. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 274.38 and a beta of 0.72.

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

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 2,768 shares of the business’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 value of $31,084.64. Following the completion of the transaction, the chief financial officer now owns 529,848 shares of the company’s stock, valued at $5,950,193.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 10,419 shares of company stock valued at $116,647. Company insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Viant Technology during the second quarter valued at about $47,000. FMR LLC lifted its position in Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology in the second quarter valued at approximately $84,000. Summit Global Investments acquired a new position in shares of Viant Technology during the second quarter worth $111,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Viant Technology during the 2nd quarter valued at $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.