Viant Technology (NASDAQ:DSP) Stock Price Up 10.3% – Time to Buy?

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

Analyst Ratings Changes

DSP has been the topic of several analyst reports. Raymond James cut their price target on Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of Viant Technology in a report on Tuesday. JMP Securities boosted their price target on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group lifted their target price 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.43.

Viant Technology Stock Performance

The business has a 50 day simple moving average of $20.41 and a 200-day simple moving average of $16.21. The firm has a market capitalization of $946.55 million, a price-to-earnings ratio of 251.04 and a beta of 1.02.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total value of $330,246.08. Following the transaction, the chief financial officer now directly owns 344,340 shares in the company, valued at $7,961,140.80. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 28.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System acquired a new stake in shares of Viant Technology during the 4th quarter worth about $27,000. Summit Investment Advisors Inc. boosted its stake in Viant Technology by 83.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock worth $30,000 after buying an additional 728 shares during the period. FMR LLC increased its position in shares of Viant Technology by 77.9% during the third 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 last quarter. Quantbot Technologies LP purchased a new stake in shares of Viant Technology in the 4th quarter valued at approximately $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Viant Technology in the 4th quarter valued at approximately $88,000. 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.