Raymond James Has Lowered Expectations for Viant Technology (NASDAQ:DSP) Stock Price

Viant Technology (NASDAQ:DSP) had its target price dropped by equities research analysts at Raymond James from $30.00 to $27.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 88.55% from the company’s current price.

DSP has been the topic of a number of other research reports. JMP Securities raised their price objective on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. Scotiabank assumed coverage on shares of Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target on the stock. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of Viant Technology in a research report on Tuesday. Finally, Canaccord Genuity Group upped their target price on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.13.

Viant Technology Stock Performance

Viant Technology stock traded down $5.43 during mid-day trading on Tuesday, reaching $14.32. 922,722 shares of the company were exchanged, compared to its average volume of 184,861. Viant Technology has a 12-month low of $7.77 and a 12-month high of $26.33. The business has a fifty day moving average of $20.74 and a 200 day moving average of $16.20. The firm has a market cap of $900.04 million, a P/E ratio of 238.02 and a beta of 1.01.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of Viant Technology stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the sale, the chief financial officer now directly owns 344,340 shares of the company’s stock, valued at approximately $7,961,140.80. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,352 shares of company stock worth $1,030,720 in the last three months. Company insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in Viant Technology by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 58,492 shares of the company’s stock valued at $1,111,000 after purchasing an additional 465 shares during the period. Summit Investment Advisors Inc. raised its holdings in Viant Technology by 83.3% in 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 last quarter. New York State Teachers Retirement System purchased a new position in Viant Technology during the fourth quarter worth about $27,000. State Street Corp boosted its position in shares of Viant Technology by 0.6% in the third quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after acquiring an additional 1,722 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Viant Technology by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after buying an additional 2,915 shares during the period. 11.38% of the stock is currently 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.