Trade Desk (NASDAQ:TTD) Raised to Moderate Buy at Cfra Research

Cfra Research upgraded shares of Trade Desk (NASDAQ:TTD) to a moderate buy rating in a report published on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on TTD. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Wolfe Research raised their target price on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Cantor Fitzgerald lowered their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, DA Davidson reduced their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Down 2.6 %

Shares of Trade Desk stock opened at $57.26 on Tuesday. The business’s 50 day simple moving average is $86.39 and its 200-day simple moving average is $108.61. The stock has a market capitalization of $28.41 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 3.11 and a beta of 1.63. Trade Desk has a twelve month low of $53.39 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Financial Network Inc. raised its position in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares in the last quarter. Quotient Wealth Partners LLC lifted its stake in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares during the period. TFB Advisors LLC grew its holdings in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares in the last quarter. Finally, Centurion Wealth Management LLC increased its position in Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares during the period. 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.