Viant Technology (NASDAQ:DSP) Shares Gap Up - Time to Buy?

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $12.27, but opened at $13.44. Viant Technology shares last traded at $12.95, with a volume of 19,119 shares changing hands.

Analyst Upgrades and Downgrades

DSP has been the subject of several research reports. JMP Securities boosted their price objective on Viant Technology from $17.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Monday, January 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $21.00 price target on shares of Viant Technology in a research note on Wednesday, April 2nd. Finally, Raymond James reduced their price objective on Viant Technology from $27.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $21.14.

Viant Technology Trading Down 2.0 %

The firm has a fifty day moving average price of $16.60 and a 200 day moving average price of $16.62. The firm has a market cap of $819.33 million, a PE ratio of 216.54 and a beta of 1.21.

Insider Activity

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of Viant Technology stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the sale, the chief financial officer now owns 344,340 shares in the company, valued at $7,961,140.80. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.80% of the company's stock.

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Hedge Funds Weigh In On Viant Technology

Hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new position in Viant Technology in the fourth quarter valued at about $27,000. Summit Investment Advisors Inc. raised its stake in shares of Viant Technology by 83.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock valued at $30,000 after acquiring an additional 728 shares during the period. FMR LLC lifted its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company's stock worth $79,000 after acquiring an additional 3,123 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Viant Technology during the 4th quarter worth approximately $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Viant Technology in the 4th quarter valued at approximately $88,000. 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.