Viant Technology (NASDAQ:DSP) Shares Gap Up – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP)’s share price gapped up prior to trading on Friday . The stock had previously closed at $10.02, but opened at $11.53. Viant Technology shares last traded at $11.6140, with a volume of 786,068 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DSP shares. Weiss Ratings raised Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Rosenblatt Securities upped their price objective on shares of Viant Technology from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. UBS Group increased their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. DA Davidson lifted their target price on shares of Viant Technology from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp boosted their target price on shares of Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.33.

Viant Technology Stock Up 19.8%

The stock has a market capitalization of $797.97 million, a PE ratio of 38.60 and a beta of 1.13. The firm has a 50 day moving average price of $12.44 and a 200-day moving average price of $11.73.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 27,451 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares of the company’s stock, valued at approximately $5,202,725.26. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 60,784 shares of company stock valued at $778,342. 29.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Viant Technology

Several large investors have recently made changes to their positions in DSP. Punch & Associates Investment Management Inc. increased its stake in shares of Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after acquiring an additional 190,248 shares during the period. Royce & Associates LP grew its position in Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares during the period. Globeflex Capital L P purchased a new position in shares of Viant Technology during the 2nd quarter valued at about $1,316,000. Norwood Investment Partners LP acquired a new position in shares of Viant Technology in the 4th quarter valued at about $1,186,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Viant Technology in the 4th quarter valued at about $873,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.