Viant Technology (NASDAQ:DSP) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Viant Technology (NASDAQ:DSP) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. DA Davidson increased their price objective on shares of Viant Technology from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. Citizens Jmp boosted their target price on Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 11th. Finally, UBS Group increased their price target on Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.33.

Viant Technology Trading Up 18.6%

Shares of Viant Technology stock opened at $11.88 on Friday. The stock has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $11.73. Viant Technology has a 12-month low of $8.11 and a 12-month high of $14.80. The company has a market capitalization of $789.66 million, a P/E ratio of 38.32 and a beta of 1.13.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 14,602 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $12.10, for a total transaction of $176,684.20. Following the completion of the transaction, the chief financial officer directly owned 342,711 shares in the company, valued at $4,146,803.10. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 92,428 shares of company stock valued at $1,168,392. Corporate insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC grew its holdings in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock worth $501,000 after purchasing an additional 3,207 shares in the last quarter. Globeflex Capital L P purchased a new stake in Viant Technology in the second quarter valued at approximately $1,316,000. Bank of New York Mellon Corp bought a new stake in Viant Technology during the second quarter valued at approximately $609,000. Versant Capital Management Inc lifted its position in Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after buying an additional 28,052 shares in the last quarter. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Key Stories Impacting Viant Technology

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
• Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
• Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.