Citizens Jmp Has Lowered Expectations for Viant Technology (NASDAQ:DSP) Stock Price

Viant Technology (NASDAQ:DSP) had its price target lowered by investment analysts at Citizens Jmp from $18.00 to $16.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 83.07% from the stock’s current price.

A number of other research analysts have also recently issued reports on DSP. Canaccord Genuity Group reduced their price objective on Viant Technology from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. DA Davidson initiated coverage on Viant Technology in a research note on Friday, August 29th. They issued a “buy” rating and a $15.00 price target on the stock. JMP Securities dropped their price objective on Viant Technology from $24.00 to $18.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.95.

Viant Technology Stock Performance

DSP stock opened at $8.74 on Tuesday. The firm has a market cap of $550.18 million, a P/E ratio of 67.24 and a beta of 1.07. The firm’s fifty day moving average is $8.99 and its 200 day moving average is $11.70. Viant Technology has a 52 week low of $8.11 and a 52 week high of $26.33.

Insiders Place Their Bets

In other Viant Technology news, COO Christopher Vanderhook sold 8,782 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $9.73, for a total value of $85,448.86. Following the completion of the transaction, the chief operating officer owned 356,284 shares in the company, valued at approximately $3,466,643.32. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Larry Madden sold 13,006 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $126,548.38. Following the sale, the chief financial officer owned 423,255 shares in the company, valued at approximately $4,118,271.15. This trade represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently bought and sold shares of DSP. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Viant Technology in the 2nd quarter worth approximately $8,443,000. Granite Investment Partners LLC purchased a new position in Viant Technology during the second quarter valued at $7,239,000. Lord Abbett & CO. LLC bought a new stake in Viant Technology in the first quarter worth $4,023,000. Punch & Associates Investment Management Inc. boosted its holdings in Viant Technology by 37.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company’s stock worth $12,283,000 after acquiring an additional 267,326 shares in the last quarter. Finally, Norwood Investment Partners LP purchased a new stake in shares of Viant Technology in the first quarter worth $2,881,000. Institutional investors 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.