Zacks Investment Research upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $143.00 price objective on the technology company’s stock.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
Several other analysts have also commented on TTD. BidaskClub upgraded shares of Trade Desk from a buy rating to a strong-buy rating in a research report on Tuesday. Nomura increased their price target on shares of Trade Desk from $87.00 to $101.00 and gave the company a neutral rating in a research report on Friday, August 10th. Wells Fargo & Co reissued a hold rating and set a $110.00 price objective on shares of Trade Desk in a research note on Friday, August 10th. SunTrust Banks upped their price objective on shares of Trade Desk to $120.00 and gave the company a buy rating in a research note on Friday, August 10th. Finally, Oppenheimer upped their price objective on shares of Trade Desk from $101.00 to $130.00 and gave the company an outperform rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $99.63.
Shares of Trade Desk stock opened at $125.61 on Tuesday. Trade Desk has a 52-week low of $40.70 and a 52-week high of $133.84. The stock has a market cap of $5.39 billion, a PE ratio of 105.55, a PEG ratio of 4.03 and a beta of 2.04.
Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 9th. The technology company reported $0.60 earnings per share for the quarter, topping the 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 company had revenue of $112.30 million for the quarter, compared to analyst estimates of $103.87 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 54.3% compared to the same quarter last year. research analysts predict that Trade Desk will post 1.41 EPS for the current year.
In other Trade Desk news, insider Brian John Stempeck sold 20,332 shares of the stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $94.87, for a total transaction of $1,928,896.84. Following the transaction, the insider now owns 65,352 shares of the company’s stock, valued at $6,199,944.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Paul Ross sold 4,382 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $92.41, for a total transaction of $404,940.62. The disclosure for this sale can be found here. Insiders have sold 547,883 shares of company stock worth $50,722,957 in the last three months. Insiders own 23.54% of the company’s stock.
A number of large investors have recently bought and sold shares of TTD. FMR LLC raised its stake in Trade Desk by 106.3% during the second quarter. FMR LLC now owns 1,715,441 shares of the technology company’s stock worth $160,908,000 after purchasing an additional 883,811 shares during the period. BlackRock Inc. raised its stake in Trade Desk by 39.5% during the second quarter. BlackRock Inc. now owns 1,992,379 shares of the technology company’s stock worth $186,884,000 after purchasing an additional 564,170 shares during the period. Jennison Associates LLC purchased a new position in Trade Desk during the second quarter worth approximately $37,534,000. Summit Trail Advisors LLC raised its stake in Trade Desk by 7,946.3% during the first quarter. Summit Trail Advisors LLC now owns 404,647 shares of the technology company’s stock worth $405,000 after purchasing an additional 399,618 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Trade Desk by 93.1% during the second quarter. Renaissance Technologies LLC now owns 552,105 shares of the technology company’s stock worth $51,787,000 after purchasing an additional 266,205 shares during the period. 75.30% 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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