Viant Technology (NASDAQ:DSP) Trading 10.3% Higher - Still a Buy?

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares traded up 10.3% on Wednesday . The company traded as high as $16.16 and last traded at $15.57. 210,633 shares changed hands during trading, a decline of 40% from the average session volume of 353,165 shares. The stock had previously closed at $14.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Viant Technology from $18.00 to $22.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Craig Hallum boosted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a "buy" rating and set a $21.00 target price on shares of Viant Technology in a research report on Tuesday, March 4th. Raymond James decreased their target price on shares of Viant Technology from $30.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a "hold" rating to a "buy" rating and boosted their target price for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $22.43.

Viant Technology Stock Down 2.6 %

The business's 50-day simple moving average is $20.32 and its two-hundred day simple moving average is $16.32. The firm has a market cap of $922.04 million, a price-to-earnings ratio of 244.54 and a beta of 1.02.

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Insiders Place Their Bets

In related news, CFO Larry Madden sold 14,284 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the transaction, the chief financial officer now owns 344,340 shares in the company, valued at $7,961,140.80. This represents a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DSP. New York State Teachers Retirement System acquired a new position in shares of Viant Technology during the 4th quarter worth about $27,000. Summit Investment Advisors Inc. raised its position in shares of Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock worth $30,000 after purchasing an additional 728 shares during the last quarter. FMR LLC raised 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 worth $79,000 after purchasing an additional 3,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Viant Technology during the 4th quarter worth about $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Viant Technology during the 4th quarter worth about $88,000. Institutional investors and hedge funds 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.