Viant Technology (NASDAQ:DSP) Reaches New 12-Month High – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.46 and last traded at $18.40, with a volume of 22478 shares changing hands. The stock had previously closed at $18.92.

Wall Street Analyst Weigh In

DSP has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Craig Hallum lifted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group upgraded 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 note on Wednesday, November 13th. 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 research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Viant Technology currently has an average rating of “Buy” and a consensus target price of $15.86.

Viant Technology Price Performance

The company has a market cap of $1.15 billion, a P/E ratio of 304.00 and a beta of 0.72. The company’s 50-day moving average is $12.95 and its two-hundred day moving average is $11.15.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 22,504 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $17.03, for a total transaction of $383,243.12. Following the completion of the transaction, the chief financial officer now directly owns 392,634 shares of the company’s stock, valued at $6,686,557.02. The trade was a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 100,166 shares of company stock valued at $1,521,311. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Kennedy Capital Management LLC lifted its holdings in shares of Viant Technology by 3.8% during the 1st quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock valued at $458,000 after buying an additional 1,562 shares during the period. State Street Corp increased its position in Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after acquiring an additional 1,722 shares during the last quarter. Rhumbline Advisers lifted its holdings in Viant Technology by 5.1% in the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock valued at $419,000 after acquiring an additional 2,070 shares during the period. Segall Bryant & Hamill LLC boosted its position in Viant Technology by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after purchasing an additional 2,915 shares during the last quarter. Finally, FMR LLC grew 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 valued at $79,000 after purchasing an additional 3,123 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.