SunTrust Banks Increases Trade Desk (TTD) Price Target to $130.00

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Trade Desk (NASDAQ:TTD) had its target price raised by research analysts at SunTrust Banks to $130.00 in a research note issued on Friday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. SunTrust Banks’ price target would suggest a potential upside of 6.06% from the stock’s current price.

Several other equities analysts have also issued reports on TTD. BidaskClub lowered Trade Desk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Royal Bank of Canada lifted their price target on Trade Desk from $80.00 to $126.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $110.00 price target on shares of Trade Desk in a research report on Friday, August 10th. Macquarie raised Trade Desk to a “buy” rating and lifted their price target for the stock from $95.00 to $130.00 in a research report on Friday, August 10th. Finally, Citigroup lifted their price target on Trade Desk from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $118.53.

Shares of Trade Desk stock opened at $122.57 on Friday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 103.00, a PEG ratio of 4.99 and a beta of 3.16. Trade Desk has a 12 month low of $40.70 and a 12 month high of $161.50.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 8th. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $118.80 million during the quarter, compared to analysts’ expectations of $117.48 million. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. Trade Desk’s revenue for the quarter was up 49.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Trade Desk will post 1.44 EPS for the current fiscal year.

In related news, insider Brian John Stempeck sold 21,000 shares of Trade Desk stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $122.83, for a total value of $2,579,430.00. Following the completion of the sale, the insider now directly owns 66,020 shares in the company, valued at approximately $8,109,236.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Terry Green sold 450,000 shares of Trade Desk stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $135.56, for a total value of $61,002,000.00. Following the completion of the sale, the insider now owns 506,178 shares of the company’s stock, valued at $68,617,489.68. The disclosure for this sale can be found here. Insiders sold a total of 640,974 shares of company stock valued at $86,922,757 over the last quarter. 26.87% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. bought a new stake in shares of Trade Desk during the 3rd quarter valued at about $2,475,000. American International Group Inc. grew its stake in shares of Trade Desk by 5.1% during the 3rd quarter. American International Group Inc. now owns 21,587 shares of the technology company’s stock valued at $3,258,000 after purchasing an additional 1,055 shares during the period. BlackRock Inc. grew its stake in shares of Trade Desk by 16.1% during the 3rd quarter. BlackRock Inc. now owns 2,312,897 shares of the technology company’s stock valued at $349,039,000 after purchasing an additional 320,518 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Trade Desk by 180.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,810 shares of the technology company’s stock valued at $274,000 after purchasing an additional 1,165 shares during the period. Finally, Swiss National Bank grew its stake in shares of Trade Desk by 4.3% during the 3rd quarter. Swiss National Bank now owns 53,800 shares of the technology company’s stock valued at $8,119,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 70.60% 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.

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The Fly

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