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

Key Points

• Viant Technology shares surged at the open, rising from a prior close of $10.02 to $11.53 and recently trading near $11.61.
• Analysts remain broadly optimistic: the stock has an average “Buy” rating and a consensus price target of $18.33, with several firms recently raising their targets.
• Insiders have recently sold shares, including CFO Larry Madden’s $358,510 transaction, while institutional ownership stands at 11.38% and insiders own 29.43% of the company.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DSP shares. Rosenblatt Securities increased their price target on Viant Technology from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. UBS Group upped their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. DA Davidson increased their target price on shares of Viant Technology from $16.50 to $17.50 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Citigroup reissued a "market outperform" rating on shares of Viant Technology in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $18.33.

Viant Technology Stock Performance

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

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 27,451 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the sale, the chief financial officer directly owned 398,371 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 60,784 shares of company stock worth $778,342 over the last ninety days. Corporate insiders own 29.43% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Punch & Associates Investment Management Inc. grew its holdings in 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 purchasing an additional 190,248 shares during the last quarter. Royce & Associates LP increased its position in shares of Viant Technology by 72.3% during the fourth 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 in the last quarter. Globeflex Capital L P purchased a new stake in shares of Viant Technology during the 2nd quarter valued at $1,316,000. Norwood Investment Partners LP purchased a new stake in shares of Viant Technology during the 4th quarter valued at $1,186,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Viant Technology in the 4th quarter worth $873,000. Institutional investors own 11.38% of the company's stock.

About Viant Technology

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.

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