Viant Technology (NASDAQ:DSP) Hits New 1-Year High After Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP) shares hit a new 52-week high on Tuesday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $22.00. Canaccord Genuity Group currently has a buy rating on the stock. Viant Technology traded as high as $19.84 and last traded at $19.67, with a volume of 38511 shares. The stock had previously closed at $19.30.

Several other research analysts have also commented on the stock. JMP Securities increased their price target on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Craig Hallum increased their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, Needham & Company LLC raised their target price on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.43.

Insider Buying and Selling

In related news, CFO Larry Madden sold 2,768 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the transaction, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 100,166 shares of company stock worth $1,521,311 over the last three months. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Several large investors have recently modified their holdings of DSP. Allspring Global Investments Holdings LLC acquired a new position in Viant Technology during the second quarter worth $47,000. FMR LLC increased its position in Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after acquiring an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology during the second quarter worth approximately $84,000. Summit Global Investments bought a new position in shares of Viant Technology in the second quarter worth $111,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Viant Technology in the 2nd quarter valued at approximately $112,000. 11.38% of the stock is currently owned by institutional investors.

Viant Technology Stock Up 1.3 %

The firm has a 50 day simple moving average of $13.58 and a two-hundred day simple moving average of $11.43. The stock has a market capitalization of $1.23 billion, a P/E ratio of 326.05 and a beta of 1.00.

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.