Viant Technology (NASDAQ:DSP) Shares Gap Up – Should You Buy?

Viant Technology Inc. (NASDAQ:DSP) gapped up before the market opened on Tuesday . The stock had previously closed at $12.27, but opened at $13.44. Viant Technology shares last traded at $12.95, with a volume of 19,119 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DSP. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 target price on shares of Viant Technology in a report on Wednesday, April 2nd. JMP Securities boosted their price objective on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Finally, Raymond James cut their price target on shares of Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.43.

Viant Technology Stock Performance

The company has a market capitalization of $808.61 million, a price-to-earnings ratio of 213.12 and a beta of 1.21. The business’s 50 day moving average is $17.65 and its 200 day moving average is $16.61.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Mackenzie Financial Corp purchased a new position in shares of Viant Technology during the 4th quarter valued at about $521,000. Two Sigma Investments LP purchased a new position in Viant Technology during the fourth quarter valued at approximately $197,000. Two Sigma Advisers LP purchased a new position in Viant Technology during the fourth quarter valued at approximately $302,000. Nuveen Asset Management LLC lifted its holdings in Viant Technology by 81.7% in the fourth quarter. Nuveen Asset Management LLC now owns 59,881 shares of the company’s stock valued at $1,137,000 after acquiring an additional 26,930 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in Viant Technology in the 4th quarter worth approximately $578,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.