Viant Technology (NASDAQ:DSP) Stock Price Up 6.6% – Still a Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) traded up 6.6% during mid-day trading on Wednesday . The company traded as high as $25.82 and last traded at $25.65. 265,633 shares were traded during trading, an increase of 8% from the average session volume of 244,941 shares. The stock had previously closed at $24.05.

Analysts Set New Price Targets

Several analysts have commented on DSP shares. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Scotiabank began 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 for the company. JMP Securities upped their price objective on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Needham & Company LLC lifted their target price on shares of Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Craig Hallum upped their price target on shares of Viant Technology from $14.00 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, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $20.29.

Viant Technology Stock Up 7.9 %

The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 432.49 and a beta of 1.01. The stock’s 50-day moving average price is $20.33 and its 200 day moving average price is $15.07.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,099 shares of company stock worth $2,435,384 in the last quarter. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of institutional investors have recently bought and sold shares of DSP. New York State Teachers Retirement System purchased a new position in shares of Viant Technology in the 4th quarter valued at approximately $27,000. FMR LLC grew its position in Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in Viant Technology in the 4th quarter valued at $80,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Viant Technology during the 4th quarter worth $88,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Viant Technology in the 3rd quarter worth $122,000. 11.38% of the stock is 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.