Trade Desk (NASDAQ:TTD) PT Raised to $120.00

Trade Desk (NASDAQ:TTD) had its price target upped by stock analysts at Truist Financial from $108.00 to $120.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective points to a potential upside of 7.66% from the stock’s current price.

TTD has been the subject of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price objective (up from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. BTIG Research increased their price target on Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Moffett Nathanson initiated coverage on shares of Trade Desk in a research note on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective on the stock. Wolfe Research began coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Needham & Company LLC boosted their price target on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.89.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $111.46 on Wednesday. The firm’s fifty day simple moving average is $100.69 and its 200-day simple moving average is $94.64. Trade Desk has a 12 month low of $60.23 and a 12 month high of $112.22. The stock has a market capitalization of $54.52 billion, a price-to-earnings ratio of 273.73, a PEG ratio of 5.27 and a beta of 1.48.

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

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the sale, the insider now owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,077,248 shares of company stock worth $115,353,156. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. boosted its stake in Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after buying an additional 163 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Trade Desk in the first quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in Trade Desk during the second quarter worth approximately $30,000. Jones Financial Companies Lllp raised its stake in Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors 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.