Viant Technology (NASDAQ:DSP) Reaches New 1-Year High – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP)’s share price reached a new 52-week high on Wednesday . The company traded as high as $12.45 and last traded at $12.45, with a volume of 12274 shares trading hands. The stock had previously closed at $12.23.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DSP shares. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. Canaccord Genuity Group raised their price objective on shares of Viant Technology from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Viant Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Viant Technology Price Performance

The firm’s 50-day simple moving average is $11.07 and its 200 day simple moving average is $10.27. The firm has a market capitalization of $812.12 million, a price-to-earnings ratio of -259.00 and a beta of 0.72.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The firm had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. As a group, research analysts predict that Viant Technology Inc. will post -0.37 earnings per share for the current year.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 2,768 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now owns 529,848 shares of the company’s stock, valued at $5,950,193.04. This represents 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 10,419 shares of company stock worth $116,647 in the last quarter. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several institutional investors have recently made changes to their positions in DSP. Victory Capital Management Inc. purchased a new stake in Viant Technology in the 3rd quarter valued at about $122,000. Summit Global Investments lifted its holdings in Viant Technology by 145.9% during the third quarter. Summit Global Investments now owns 27,736 shares of the company’s stock worth $307,000 after acquiring an additional 16,457 shares during the period. Algert Global LLC purchased a new position in shares of Viant Technology in the 2nd quarter worth about $128,000. Mackenzie Financial Corp bought a new stake in shares of Viant Technology in the 2nd quarter worth approximately $112,000. Finally, AQR Capital Management LLC bought a new position in Viant Technology during the second quarter valued at $236,000. Institutional investors 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.