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

Viant Technology Inc. (NASDAQ:DSP)’s stock price reached 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. The stock had previously closed at $21.39.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JMP Securities boosted their target price on shares of Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday. Scotiabank initiated coverage on shares of Viant Technology in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective for the company. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC upped their price objective on shares of Viant Technology from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.29.

Viant Technology Trading Up 0.4 %

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

Insiders Place Their Bets

In related news, Director Max O. Valdes sold 7,500 shares of the stock in a transaction 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 transaction, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Larry Madden sold 14,284 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 358,624 shares in the company, valued at $6,727,786.24. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,815 shares of company stock worth $2,105,138 in the last ninety days. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Viant Technology during the 4th quarter worth $142,000. Ritholtz Wealth Management lifted its stake in shares of Viant Technology by 34.7% in the 4th quarter. Ritholtz Wealth Management now owns 22,484 shares of the company’s stock worth $427,000 after acquiring an additional 5,794 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Viant Technology in the 4th quarter worth $88,000. JPMorgan Chase & Co. lifted its stake in shares of Viant Technology by 102.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company’s stock worth $1,069,000 after acquiring an additional 48,826 shares during the period. Finally, Barclays PLC lifted its stake in shares of Viant Technology by 74.7% in the 3rd quarter. Barclays PLC now owns 39,255 shares of the company’s stock worth $435,000 after acquiring an additional 16,784 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Company Profile

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.