Short Interest in Viant Technology Inc. (NASDAQ:DSP) Decreases By 21.9%

Viant Technology Inc. (NASDAQ:DSP) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 492,200 shares, a decrease of 21.9% from the October 15th total of 630,200 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily trading volume, of 83,400 shares, the short-interest ratio is presently 5.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research note on Wednesday. Craig Hallum raised their price objective on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 report on Wednesday. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $18.00 in a report on Wednesday. Finally, Needham & Company LLC lifted their price objective on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and an average target price of $15.86.

Viant Technology Price Performance

DSP opened at $15.40 on Friday. The company has a market capitalization of $973.28 million, a price-to-earnings ratio of 252.71 and a beta of 0.72. The business’s 50-day moving average price is $11.45 and its two-hundred day moving average price is $10.50. Viant Technology has a 1 year low of $5.36 and a 1 year high of $16.97.

Viant Technology (NASDAQ:DSP) last released its 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 firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. Sell-side analysts anticipate that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 10,419 shares of company stock worth $116,647 over the last ninety days. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Viant Technology during the second quarter worth $47,000. FMR LLC boosted its stake in shares of Viant Technology by 77.9% during the 3rd 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. Ashton Thomas Private Wealth LLC bought a new position in shares of Viant Technology in the 2nd quarter valued at about $84,000. Victory Capital Management Inc. acquired a new stake in shares of Viant Technology in the third quarter valued at about $122,000. Finally, Summit Global Investments bought a new stake in Viant Technology during the second quarter worth about $111,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.