Viant Technology’s (DSP) Buy Rating Reaffirmed at Needham & Company LLC

Viant Technology (NASDAQ:DSP)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $21.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 39.17% from the company’s previous close.

DSP has been the topic of a number of other reports. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. JMP Securities boosted their target price on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Scotiabank initiated coverage on shares of Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. 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 report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $22.43.

Viant Technology Price Performance

DSP stock opened at $15.09 on Tuesday. The company has a 50 day simple moving average of $20.52 and a 200 day simple moving average of $16.22. The stock has a market cap of $948.44 million, a price-to-earnings ratio of 251.54 and a beta of 1.01. Viant Technology has a 1 year low of $7.77 and a 1 year high of $26.33.

Insider Activity

In other news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.76, for a total value of $267,967.84. Following the sale, the chief financial officer now directly owns 358,624 shares of the company’s stock, valued at approximately $6,727,786.24. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total transaction of $153,825.00. Following the completion of the sale, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,068 shares of company stock valued at $752,039. 28.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of Viant Technology during the 4th quarter valued at $27,000. Summit Investment Advisors Inc. lifted its position in shares of Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after acquiring an additional 728 shares during the period. FMR LLC raised its holdings in 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 buying an additional 3,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in Viant Technology during the fourth quarter worth $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viant Technology during the fourth quarter worth $88,000. Institutional investors and hedge funds 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.