Viant Technology (NASDAQ:DSP) Shares Up 6.6% - Still a Buy?

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shot up 6.6% during 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Viant Technology from a "hold" rating to a "buy" rating and upped their price target for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Needham & Company LLC raised their price target on shares of Viant Technology from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Craig Hallum upped their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Viant Technology from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Finally, JMP Securities upped their price target on Viant Technology from $17.00 to $24.00 and gave the company a "market outperform" rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $20.29.

Viant Technology Price Performance

The firm has a market cap of $1.45 billion, a PE ratio of 384.56 and a beta of 1.01. The stock has a 50 day simple moving average of $20.57 and a 200-day simple moving average of $15.33.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 22,504 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.03, for a total value of $383,243.12. Following the completion of the transaction, the chief financial officer now owns 392,634 shares in the company, valued at $6,686,557.02. The trade was a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction dated Friday, December 6th. The stock was 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 owns 63,452 shares of the company's stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,856 shares of company stock worth $1,413,963. Corporate insiders own 28.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DSP. Summit Global Investments lifted its stake in shares of Viant Technology by 145.9% in 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 during the period. Victory Capital Management Inc. bought a new position in Viant Technology in the third quarter worth approximately $122,000. Segall Bryant & Hamill LLC boosted its stake in shares of Viant Technology by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company's stock worth $4,959,000 after acquiring an additional 2,915 shares during the last quarter. FMR LLC grew its position in shares of Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company's stock valued at $79,000 after acquiring an additional 3,123 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in shares of Viant Technology in the 3rd quarter worth $254,000. 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.