Cantor Fitzgerald Reiterates Neutral Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “neutral” rating reiterated by Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $110.00 price target on the technology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 1.30% from the stock’s previous close.

TTD has been the topic of a number of other research reports. Benchmark raised their target price on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 9th. Citigroup lifted their price objective on shares of Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley increased their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Royal Bank of Canada raised their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price (up from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.71.

Trade Desk Price Performance

Shares of Trade Desk stock traded down $0.92 during trading on Monday, hitting $108.59. 383,554 shares of the company’s stock traded hands, compared to its average volume of 3,963,097. Trade Desk has a 1 year low of $60.23 and a 1 year high of $111.80. The business has a 50-day simple moving average of $98.75 and a 200-day simple moving average of $93.08. The stock has a market capitalization of $53.11 billion, a P/E ratio of 271.48, a PEG ratio of 5.07 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the company posted $0.07 EPS. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the transaction, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 596,748 shares of company stock worth $61,010,053. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Vanguard Group Inc. lifted its stake in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after buying an additional 818,568 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its stake in shares of Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after acquiring an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after purchasing an additional 209,222 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Trade Desk by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after purchasing an additional 59,161 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.