Trade Desk (NASDAQ:TTD) Given New $110.00 Price Target at Royal Bank of Canada

Trade Desk (NASDAQ:TTD) had its target price lifted by equities researchers at Royal Bank of Canada from $105.00 to $110.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.66% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. KeyCorp lifted their target price on Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Benchmark boosted their target price on shares of Trade Desk from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Oppenheimer increased their price objective on Trade Desk from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Stifel Nicolaus lifted their target price on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $108.00 price target (up from $107.00) on shares of Trade Desk in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.05.

Trade Desk Stock Up 2.6 %

Trade Desk stock traded up $2.22 during midday trading on Thursday, hitting $88.24. The company’s stock had a trading volume of 5,843,344 shares, compared to its average volume of 4,467,201. Trade Desk has a 12 month low of $60.23 and a 12 month high of $94.00. The company has a market capitalization of $43.14 billion, a PE ratio of 244.97, a price-to-earnings-growth ratio of 4.88 and a beta of 1.50. The stock’s 50-day moving average price is $83.98 and its 200-day moving average price is $76.09.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The business had revenue of $605.80 million during the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. As a group, equities analysts anticipate that Trade Desk will post 0.79 EPS for the current year.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the sale, the insider now owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Samantha Jacobson sold 15,006 shares of Trade Desk stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the sale, the insider now owns 52,387 shares of the company’s stock, valued at approximately $4,377,981.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the transaction, the insider now directly owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The disclosure for this sale can be found here. Insiders sold a total of 642,170 shares of company stock valued at $53,970,398 in the last quarter. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors have recently bought and sold shares of TTD. Blair William & Co. IL lifted its holdings in shares of Trade Desk by 61.2% during the first quarter. Blair William & Co. IL now owns 15,525 shares of the technology company’s stock valued at $1,357,000 after acquiring an additional 5,893 shares during the period. Picton Mahoney Asset Management increased its position in shares of Trade Desk by 91.9% during the 1st quarter. Picton Mahoney Asset Management now owns 118,446 shares of the technology company’s stock worth $10,355,000 after purchasing an additional 56,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Trade Desk by 0.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 310,223 shares of the technology company’s stock valued at $27,120,000 after purchasing an additional 1,825 shares during the last quarter. Interchange Capital Partners LLC boosted its position in Trade Desk by 13.4% in the first quarter. Interchange Capital Partners LLC now owns 3,552 shares of the technology company’s stock valued at $314,000 after buying an additional 421 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Trade Desk by 3.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 485,577 shares of the technology company’s stock worth $42,449,000 after buying an additional 18,003 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.