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

Viant Technology Inc. (NASDAQ:DSP) reached a new 52-week high on Tuesday . The stock 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on DSP shares. Needham & Company LLC raised their target price on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities lifted their target price on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $18.00 in a research 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 research report on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $18.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology currently has an average rating of “Buy” and an average target price of $15.86.

Viant Technology Stock Up 21.7 %

The stock has a market cap of $1.04 billion, a P/E ratio of 276.55 and a beta of 0.72. The firm’s 50-day moving average is $11.33 and its two-hundred day moving average is $10.46.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The business had revenue of $41.56 million during the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. Analysts anticipate that Viant Technology Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 2,768 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $11.23, for a total value of $31,084.64. Following the completion of the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at approximately $5,950,193.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 10,419 shares of company stock worth $116,647 over the last three months. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in shares of Viant Technology by 5,286.9% in the second quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after buying an additional 20,668 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Viant Technology in the second quarter worth $1,387,000. Acadian Asset Management LLC grew its stake in shares of Viant Technology by 659.4% in the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $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 Viant Technology during the second quarter worth $84,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

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.