Brokerages Set The Trade Desk, Inc. (NASDAQ:TTD) Target Price at $93.69

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $93.69.

Several research firms recently commented on TTD. BMO Capital Markets reissued an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Trade Desk in a research report on Thursday, May 9th. Royal Bank of Canada raised their price target on shares of Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective on shares of Trade Desk in a report on Thursday, May 16th. Finally, DA Davidson raised their target price on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 9th.

Trade Desk Stock Up 0.4 %

Shares of NASDAQ TTD opened at $98.34 on Friday. The stock has a market capitalization of $48.10 billion, a PE ratio of 245.86, a P/E/G ratio of 5.00 and a beta of 1.48. The firm has a fifty day moving average of $92.96 and a 200-day moving average of $82.79. Trade Desk has a 52-week low of $60.23 and a 52-week high of $99.54.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. Equities research analysts expect that Trade Desk will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 2,600 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $86.41, for a total value of $224,666.00. Following the completion of the sale, the chief executive officer now owns 974,022 shares in the company, valued at $84,165,241.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 2,600 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $86.41, for a total value of $224,666.00. Following the completion of the transaction, the chief executive officer now directly owns 974,022 shares in the company, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold a total of 340,154 shares of company stock valued at $31,128,226 over the last quarter. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds have recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in shares of Trade Desk in the first quarter worth $2,626,000. Franklin Resources Inc. lifted its stake in Trade Desk by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after acquiring an additional 53,441 shares in the last quarter. Nordea Investment Management AB boosted its position in Trade Desk by 31.7% during the 4th quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock worth $44,226,000 after acquiring an additional 147,717 shares during the period. Asset Management One Co. Ltd. grew its stake in Trade Desk by 30.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock valued at $21,078,000 after acquiring an additional 67,520 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Trade Desk by 12.8% in the 4th quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after purchasing an additional 28,714 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

About Trade Desk

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.