Viant Technology (NASDAQ:DSP) Trading 4.3% Higher – Should You Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) shot up 4.3% on Friday . The company traded as high as $16.15 and last traded at $16.06. 170,834 shares traded hands during trading, an increase of 37% from the average session volume of 124,751 shares. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

Several brokerages have commented on DSP. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $18.00 in a research report on Wednesday. JMP Securities lifted their target price on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday. Craig Hallum boosted their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $18.00 in a report on Wednesday. Finally, Needham & Company LLC boosted their target price on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology presently has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Up 4.1 %

The business has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $10.53. The stock has a market cap of $1.01 billion, a P/E ratio of 262.00 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last announced 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 net margin of 0.47% and a negative return on equity of 5.69%. The company had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. On average, research analysts forecast that Viant Technology Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.05, for a total value of $34,078.20. Following the transaction, the chief financial officer now directly owns 538,434 shares in the company, valued at $5,949,695.70. This represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 10,419 shares of company stock valued at $116,647 in the last quarter. 28.80% of the stock is currently owned by insiders.

Institutional Trading of Viant Technology

A number of large investors have recently modified their holdings of DSP. Acadian Asset Management LLC lifted its holdings in shares of Viant Technology by 379.0% in the 1st quarter. Acadian Asset Management LLC now owns 18,749 shares of the company’s stock worth $198,000 after buying an additional 14,835 shares during the period. Heron Bay Capital Management bought a new position in shares of Viant Technology in the 1st quarter worth $243,000. Quadrature Capital Ltd boosted its position in Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after purchasing an additional 20,668 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in Viant Technology by 3.8% in the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock worth $458,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Viant Technology in the 2nd quarter valued at about $111,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.