Wedbush Reaffirms Outperform Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued on Thursday, MarketBeat reports. They currently have a $115.00 target price on the technology company’s stock, up from their previous target price of $110.00. Wedbush’s target price would suggest a potential upside of 8.43% from the stock’s current price.

A number of other equities research analysts have also issued reports on TTD. Benchmark upped their target price on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Trade Desk in a report on Wednesday. Oppenheimer boosted their target price on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Susquehanna increased their price target on Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a report on Friday, August 9th. Finally, Robert W. Baird boosted their price objective on Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.05.

Trade Desk Trading Up 1.5 %

Shares of Trade Desk stock opened at $106.06 on Thursday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $107.64. The firm has a market capitalization of $52.14 billion, a PE ratio of 265.16, a P/E/G ratio of 4.89 and a beta of 1.48. The firm’s 50-day moving average price is $97.82 and its 200 day moving average price is $91.95.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Insiders sold 599,163 shares of company stock worth $61,246,529 in the last three months. 10.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TTD. Pinnacle Bancorp Inc. lifted its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co acquired a new stake in Trade Desk in the first quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in Trade Desk during the 2nd quarter worth about $30,000. Bogart Wealth LLC increased its holdings in shares of Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Trade Desk in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.