Trade Desk (NASDAQ:TTD) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “neutral” rating and a $110.00 price target on the technology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 8.53% from the company’s previous close.

A number of other research firms also recently issued reports on TTD. KeyCorp raised their target price on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Oppenheimer boosted their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 target price (up previously from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.85.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $101.35 on Thursday. The firm has a market cap of $49.57 billion, a PE ratio of 253.38, a P/E/G ratio of 5.30 and a beta of 1.48. Trade Desk has a 1 year low of $60.23 and a 1 year high of $105.39. The stock has a fifty day moving average price of $97.46 and a 200-day moving average price of $91.26.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities analysts anticipate that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. The disclosure for this sale can be found here. In the last three months, insiders sold 642,868 shares of company stock worth $65,415,112. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently bought and sold shares of TTD. Kestra Private Wealth Services LLC boosted its stake in shares of Trade Desk by 8.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,093 shares of the technology company’s stock valued at $223,000 after purchasing an additional 242 shares during the period. Fisher Asset Management LLC bought a new stake in Trade Desk during the 4th quarter valued at $307,000. Los Angeles Capital Management LLC boosted its position in Trade Desk by 212.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 16,906 shares of the technology company’s stock valued at $1,217,000 after buying an additional 11,494 shares during the period. Amalgamated Bank grew its holdings in Trade Desk by 2.0% in the 4th quarter. Amalgamated Bank now owns 47,191 shares of the technology company’s stock worth $3,396,000 after acquiring an additional 939 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at about $207,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.