Viant Technology (NASDAQ:DSP) Hits New 12-Month High - Here's Why

Viant Technology Inc. (NASDAQ:DSP - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $13.81 and last traded at $13.81, with a volume of 9237 shares traded. The stock had previously closed at $13.62.

Wall Street Analysts Forecast Growth

DSP has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of Viant Technology from $11.00 to $13.00 and gave the stock a "hold" rating in a research note on Friday, October 18th. Needham & Company LLC reiterated a "buy" rating and set a $12.00 price objective on shares of Viant Technology in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.20.

Viant Technology Stock Performance

The business's 50 day moving average is $11.27 and its 200 day moving average is $10.42. The stock has a market cap of $859.52 million, a price-to-earnings ratio of -272.40 and a beta of 0.72.

Viant Technology (NASDAQ:DSP - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. The company had revenue of $41.56 million during the quarter, compared to analysts' expectations of $41.10 million. Research analysts expect that Viant Technology Inc. will post -0.37 earnings per share for the current year.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 3,084 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.05, for a total transaction of $34,078.20. Following the transaction, the chief financial officer now owns 538,434 shares of the company's stock, valued at approximately $5,949,695.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 10,419 shares of company stock valued at $116,647. Insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Viant Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC raised its position in Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company's stock worth $4,959,000 after purchasing an additional 2,915 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Viant Technology in the 3rd quarter valued at $122,000. Summit Global Investments increased its stake in Viant Technology by 145.9% during the 3rd quarter. Summit Global Investments now owns 27,736 shares of the company's stock worth $307,000 after purchasing an additional 16,457 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Viant Technology in the 2nd quarter valued at about $128,000. Finally, Mackenzie Financial Corp bought a new position in shares of Viant Technology during the 2nd quarter worth approximately $112,000. Institutional investors own 11.38% of the company's stock.

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.

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