Equities researchers at Wells Fargo & Co started coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued to investors on Wednesday, December 20th, Marketbeat reports. The firm set an “outperform” rating and a $60.00 price target on the technology company’s stock. Wells Fargo & Co’s price target would indicate a potential upside of 22.12% from the company’s previous close.
TTD has been the topic of a number of other reports. SunTrust Banks raised Trade Desk from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.25 to $55.00 in a report on Monday, December 11th. Vetr downgraded Trade Desk from a “strong-buy” rating to a “buy” rating and set a $71.92 target price on the stock. in a research note on Tuesday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $62.00 target price on shares of Trade Desk in a research note on Friday, September 1st. Susquehanna Bancshares restated a “positive” rating and issued a $66.00 target price on shares of Trade Desk in a research note on Wednesday, October 4th. Finally, Macquarie assumed coverage on Trade Desk in a research note on Thursday, October 12th. They issued an “outperform” rating and a $78.00 target price on the stock. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $63.79.
Shares of Trade Desk (NASDAQ:TTD) traded up $0.17 during mid-day trading on Wednesday, hitting $49.13. The stock had a trading volume of 835,900 shares, compared to its average volume of 649,451. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2,010.98, a price-to-earnings ratio of 48.64, a PEG ratio of 1.32 and a beta of 5.35. Trade Desk has a fifty-two week low of $28.11 and a fifty-two week high of $67.30.
Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 9th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.15. The business had revenue of $79.40 million for the quarter, compared to analyst estimates of $76.84 million. Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The company’s revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. equities analysts expect that Trade Desk will post 1.28 earnings per share for the current year.
In other Trade Desk news, insider Jeffrey Terry Green sold 9,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $47.61, for a total transaction of $428,490.00. Following the transaction, the insider now owns 113,744 shares in the company, valued at $5,415,351.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian John Stempeck sold 10,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $64.18, for a total value of $641,800.00. The disclosure for this sale can be found here. Insiders have sold 90,616 shares of company stock worth $4,964,670 in the last quarter. 26.87% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. raised its holdings in shares of Trade Desk by 6.5% during the second quarter. Alliancebernstein L.P. now owns 2,003,888 shares of the technology company’s stock valued at $100,415,000 after acquiring an additional 122,774 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Trade Desk by 79.9% during the second quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after acquiring an additional 885,916 shares during the last quarter. FMR LLC raised its holdings in shares of Trade Desk by 12.7% during the second quarter. FMR LLC now owns 1,575,792 shares of the technology company’s stock valued at $78,963,000 after acquiring an additional 178,092 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Trade Desk by 109.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after acquiring an additional 748,795 shares during the last quarter. Finally, Williams Jones & Associates LLC raised its holdings in shares of Trade Desk by 12.3% during the second quarter. Williams Jones & Associates LLC now owns 984,925 shares of the technology company’s stock valued at $49,355,000 after acquiring an additional 108,236 shares during the last quarter. 65.38% of the stock is owned by institutional investors and hedge funds.
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About Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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