Research analysts at DA Davidson initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a research report issued on Monday. The brokerage set a “buy” rating and a $158.00 price target on the technology company’s stock. DA Davidson’s target price points to a potential upside of 19.79% from the stock’s previous close.
Several other research analysts have also commented on the stock. Stifel Nicolaus raised their price objective on shares of Trade Desk from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Rosenblatt Securities assumed coverage on shares of Trade Desk in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $138.00 target price on the stock. Citigroup assumed coverage on shares of Trade Desk in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $138.00 target price on the stock. They noted that the move was a valuation call. BidaskClub cut shares of Trade Desk from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Trade Desk presently has an average rating of “Buy” and a consensus price target of $113.58.
Shares of NASDAQ TTD traded down $1.50 during midday trading on Monday, hitting $131.90. The company’s stock had a trading volume of 1,169,636 shares, compared to its average volume of 1,112,819. Trade Desk has a 1 year low of $40.70 and a 1 year high of $161.50. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 110.87, a PEG ratio of 4.21 and a beta of 3.05.
Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 9th. The technology company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Trade Desk had a net margin of 14.59% and a return on equity of 21.65%. The business had revenue of $112.30 million during the quarter, compared to analyst estimates of $103.87 million. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 54.3% compared to the same quarter last year. As a group, analysts forecast that Trade Desk will post 1.43 EPS for the current fiscal year.
In other Trade Desk news, CFO Paul Ross sold 7,132 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $94.80, for a total transaction of $676,113.60. Following the sale, the chief financial officer now owns 65,348 shares of the company’s stock, valued at $6,194,990.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Falk sold 162,141 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $93.67, for a total transaction of $15,187,747.47. Following the sale, the director now directly owns 9,390 shares in the company, valued at approximately $879,561.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,994 shares of company stock worth $109,066,063. 23.54% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in Trade Desk by 27.5% during the second quarter. Northern Trust Corp now owns 357,066 shares of the technology company’s stock worth $33,493,000 after purchasing an additional 76,925 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Trade Desk during the second quarter worth approximately $1,615,000. Bank of New York Mellon Corp raised its holdings in Trade Desk by 42.4% during the second quarter. Bank of New York Mellon Corp now owns 202,892 shares of the technology company’s stock worth $19,033,000 after purchasing an additional 60,447 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Trade Desk by 235.7% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,655 shares of the technology company’s stock worth $155,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Global X Management Co LLC acquired a new stake in Trade Desk during the second quarter worth approximately $270,000. 71.71% of the stock is currently owned by institutional investors.
Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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