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

Viant Technology Inc. (NASDAQ:DSP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.84 and last traded at $21.22, with a volume of 1200 shares trading hands. The stock had previously closed at $21.39.

Analyst Upgrades and Downgrades

Several analysts recently commented on DSP shares. Canaccord Genuity Group raised their price objective on shares of Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JMP Securities lifted their target price 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. Craig Hallum lifted their target price 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. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Finally, Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $20.29.

Viant Technology Stock Up 0.4 %

The firm has a market capitalization of $1.35 billion, a PE ratio of 358.01 and a beta of 0.98. The business’s fifty day moving average price is $19.45 and its 200 day moving average price is $14.23.

Insider Activity at Viant Technology

In related news, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.76, for a total transaction of $267,967.84. Following the completion of the sale, the chief financial officer now owns 358,624 shares of the company’s stock, valued at approximately $6,727,786.24. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,815 shares of company stock worth $2,105,138. 28.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Viant Technology during the fourth quarter worth approximately $88,000. Mackenzie Financial Corp purchased a new stake in Viant Technology during the second quarter worth approximately $112,000. Victory Capital Management Inc. purchased a new stake in Viant Technology during the third quarter worth approximately $122,000. Finally, Algert Global LLC purchased a new stake in Viant Technology during the second quarter worth approximately $128,000. 11.38% of the stock is currently 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.