Viant Technology (NASDAQ:DSP) Hits New 12-Month High – Here’s Why

Viant Technology Inc. (NASDAQ:DSP)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.15 and last traded at $16.66, with a volume of 17147 shares traded. The stock had previously closed at $16.21.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Craig Hallum raised their price objective on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. JMP Securities increased their price target on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price target on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology currently has an average rating of “Buy” and a consensus price target of $15.86.

Viant Technology Stock Performance

The firm has a market cap of $1.08 billion, a PE ratio of 270.21 and a beta of 0.72. The company has a 50 day simple moving average of $11.67 and a two-hundred day simple moving average of $10.62.

Insider Buying and Selling

In related news, CFO Larry Madden sold 3,084 shares of Viant Technology stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the transaction, the chief financial officer now directly owns 538,434 shares in the company, valued at approximately $5,949,695.70. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Viant Technology by 1.9% during the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock worth $4,045,000 after buying an additional 6,803 shares in the last quarter. Barclays PLC boosted its stake in shares of Viant Technology by 74.7% during the 3rd quarter. Barclays PLC now owns 39,255 shares of the company’s stock worth $435,000 after acquiring an additional 16,784 shares in the last quarter. State Street Corp grew its position in shares of Viant Technology by 0.6% during the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after acquiring an additional 1,722 shares during the period. Martingale Asset Management L P acquired a new position in Viant Technology in the 3rd quarter worth about $254,000. Finally, FMR LLC boosted its position in Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after purchasing an additional 3,123 shares in the last quarter. 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.