Viant Technology (NASDAQ:DSP) Reaches New 12-Month High – Still a Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) reached a new 52-week high on Tuesday . The company traded as high as $13.81 and last traded at $13.81, with a volume of 9237 shares. The stock had previously closed at $13.62.

Analyst Ratings Changes

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

Viant Technology Trading Up 21.7 %

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 276.55 and a beta of 0.72. The stock has a fifty day moving average of $11.33 and a two-hundred day moving average of $10.46.

Viant Technology (NASDAQ:DSP) last released 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 business had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Equities analysts expect that Viant Technology Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 3,084 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total value of $34,078.20. Following the completion of the transaction, the chief financial officer now owns 538,434 shares in the company, valued at $5,949,695.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 10,419 shares of company stock worth $116,647. Corporate insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Federated Hermes Inc. grew its position in shares of Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after buying an additional 66,509 shares during the period. Quadrature Capital Ltd boosted its stake in Viant Technology by 39.0% in the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after acquiring an additional 20,668 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in Viant Technology during the 2nd quarter worth $1,387,000. Acadian Asset Management LLC raised its position in shares of Viant Technology by 659.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after acquiring an additional 123,635 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Viant Technology in the 2nd quarter worth $84,000. 11.38% of the stock is owned by 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.