Viant Technology (NASDAQ:DSP) Hits New 1-Year High – Should You Buy?

Viant Technology Inc. (NASDAQ:DSP) shares reached a new 52-week high on Monday . The stock traded as high as $17.15 and last traded at $16.66, with a volume of 17147 shares trading hands. The stock had previously closed at $16.21.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Craig Hallum lifted 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, November 13th. JMP Securities increased their target price on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

The company has a fifty day moving average of $11.67 and a two-hundred day moving average of $10.62. The company has a market cap of $1.08 billion, a PE ratio of 270.21 and a beta of 0.72.

Insider Activity

In related news, CFO Larry Madden sold 3,084 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the transaction, the chief financial officer now owns 538,434 shares in the company, valued at $5,949,695.70. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 10,419 shares of company stock valued at $116,647. 28.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DSP. Allspring Global Investments Holdings LLC purchased a new position in Viant Technology during the 2nd quarter worth $47,000. FMR LLC lifted its holdings 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 buying an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Viant Technology during the 2nd quarter valued at $84,000. Victory Capital Management Inc. purchased a new position in shares of Viant Technology in the 3rd quarter valued at $122,000. Finally, Summit Global Investments bought a new position in shares of Viant Technology in the 2nd quarter worth $111,000. 11.38% of the stock is currently owned by institutional investors.

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.