Trade Desk (NASDAQ:TTD) Lifted to Buy at StockNews.com

Trade Desk (NASDAQ:TTD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages also recently issued reports on TTD. Loop Capital increased their price target on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Stifel Nicolaus restated a “buy” rating and issued a $111.00 price target (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Bank of America started coverage on Trade Desk in a report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target for the company. Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Finally, KeyCorp increased their price target on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.43.

Trade Desk Trading Down 0.8 %

NASDAQ:TTD opened at $108.72 on Wednesday. Trade Desk has a 1-year low of $60.23 and a 1-year high of $112.22. The business’s 50-day moving average price is $100.15 and its two-hundred day moving average price is $94.31. The firm has a market capitalization of $53.18 billion, a price-to-earnings ratio of 271.80, a PEG ratio of 5.27 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Sell-side analysts predict that Trade Desk will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the completion of the sale, the chief executive officer now directly owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the completion of the sale, the chief executive officer now directly owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. The disclosure for this sale can be found here. Insiders sold a total of 1,056,669 shares of company stock worth $113,117,247 over the last ninety days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Hedge funds have recently made changes to their positions in the business. Pinnacle Bancorp Inc. lifted its holdings in 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 during the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Trade Desk during the 2nd quarter worth approximately $30,000. Jones Financial Companies Lllp lifted its holdings in Trade Desk by 889.4% during the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in Trade Desk during the 2nd quarter worth approximately $37,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.