Trade Desk (NASDAQ:TTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $159.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.10% from the stock’s current price.
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 research firms have also weighed in on TTD. Raymond James reissued a “buy” rating and issued a $122.00 target price on shares of Trade Desk in a research note on Wednesday, August 15th. Nomura increased their target price on Trade Desk from $87.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. BidaskClub raised Trade Desk from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. SunTrust Banks increased their target price on Trade Desk to $120.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Pivotal Research started coverage on Trade Desk in a research note on Monday, July 9th. They issued a “sell” rating and a $58.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Trade Desk presently has a consensus rating of “Buy” and an average target price of $100.47.
Shares of TTD traded up $6.49 during trading hours on Friday, hitting $145.74. 31,817 shares of the stock traded hands, compared to its average volume of 1,568,885. Trade Desk has a 1-year low of $40.70 and a 1-year high of $147.49. The firm has a market capitalization of $6.09 billion, a PE ratio of 122.47, a price-to-earnings-growth ratio of 3.96 and a beta of 3.05.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 9th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The business had revenue of $112.30 million for the quarter, compared to analyst estimates of $103.87 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The firm’s revenue for the quarter was up 54.3% compared to the same quarter last year. equities analysts predict that Trade Desk will post 1.43 EPS for the current fiscal year.
In other Trade Desk news, insider David Randall Pickles sold 75,000 shares of the stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $90.20, for a total value of $6,765,000.00. Following the completion of the sale, the insider now directly owns 121,237 shares in the company, valued at $10,935,577.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian John Stempeck sold 20,332 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $94.87, for a total value of $1,928,896.84. Following the completion of the sale, the insider now owns 65,352 shares of the company’s stock, valued at $6,199,944.24. The disclosure for this sale can be found here. Insiders sold 437,876 shares of company stock valued at $43,182,412 over the last 90 days. Corporate insiders own 26.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. bought a new position in shares of Trade Desk during the second quarter worth about $147,000. Mount Yale Investment Advisors LLC grew its holdings in shares of Trade Desk by 235.7% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,655 shares of the technology company’s stock worth $155,000 after buying an additional 1,162 shares in the last quarter. Strs Ohio bought a new position in shares of Trade Desk during the second quarter worth about $187,000. CAPROCK Group Inc. bought a new position in shares of Trade Desk during the second quarter worth about $201,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Trade Desk during the second quarter worth about $219,000. Institutional investors own 71.72% of the company’s stock.
About Trade Desk
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.
Further Reading: Leveraged Buyout (LBO)
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