Viant Technology (NASDAQ:DSP) Sets New 52-Week High – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP) shares hit a new 52-week high on Tuesday . The stock traded as high as $21.12 and last traded at $20.96, with a volume of 19706 shares changing hands. The stock had previously closed at $20.64.

Wall Street Analysts Forecast Growth

DSP has been the topic of several recent analyst reports. Scotiabank began coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price on the stock. JMP Securities lifted their price objective on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their price target on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Needham & Company LLC upped their target price on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, 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 report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology presently has an average rating of “Buy” and an average price target of $17.75.

Viant Technology Stock Performance

The stock has a fifty day moving average price of $14.33 and a 200-day moving average price of $11.74. The firm has a market capitalization of $1.35 billion, a PE ratio of 344.00 and a beta of 1.00.

Insider Buying and Selling at Viant Technology

In other news, Director Max O. Valdes sold 7,500 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $20.51, for a total transaction of $153,825.00. Following the sale, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This represents a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Larry Madden sold 2,768 shares of Viant Technology stock in a transaction 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 sale, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,950 shares of company stock worth $1,953,817. 28.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors have recently made changes to their positions in DSP. Allspring Global Investments Holdings LLC acquired a new stake in shares of Viant Technology during the second quarter worth about $47,000. FMR LLC grew its stake in shares of Viant Technology by 77.9% in 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Viant Technology in the 2nd quarter valued at about $84,000. Summit Global Investments purchased a new position in Viant Technology in the second quarter worth approximately $111,000. Finally, Mackenzie Financial Corp purchased a new stake 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 and hedge funds.

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.