JMP Securities Increases Viant Technology (NASDAQ:DSP) Price Target to $17.00

Viant Technology (NASDAQ:DSP) had its target price upped by investment analysts at JMP Securities from $12.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 10.39% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the company 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 boosted their price target for the company 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 research note on Tuesday, August 13th. Finally, Craig Hallum boosted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology currently has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

Shares of DSP stock opened at $15.40 on Wednesday. The company has a market cap of $973.28 million, a P/E ratio of 256.71 and a beta of 0.72. Viant Technology has a fifty-two week low of $5.36 and a fifty-two week high of $16.97. The stock has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $10.50.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data 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 net margin of 0.47% and a negative return on equity of 5.69%. The company had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. On average, research analysts predict that Viant Technology will post -0.37 earnings per share for the current year.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 3,084 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the sale, the chief financial officer now owns 538,434 shares in the company, valued at approximately $5,949,695.70. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Viant Technology during the second quarter valued at approximately $47,000. FMR LLC lifted its holdings in shares of 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 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 2nd quarter valued at about $84,000. Victory Capital Management Inc. purchased a new position in shares of Viant Technology during the third quarter valued at approximately $122,000. Finally, Summit Global Investments bought a new position in Viant Technology during the second quarter valued at approximately $111,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.