Truist Financial Boosts Trade Desk (NASDAQ:TTD) Price Target to $120.00

Trade Desk (NASDAQ:TTD) had its target price boosted by investment analysts at Truist Financial from $108.00 to $120.00 in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would indicate a potential upside of 10.38% from the company’s current price.

Several other analysts have also recently issued reports on the company. Loop Capital upped their price objective on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Moffett Nathanson started coverage on Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $111.00 price objective (up previously from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a report on Monday. Finally, KeyCorp upped their target price on Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $109.89.

Trade Desk Stock Performance

NASDAQ:TTD opened at $108.72 on Wednesday. Trade Desk has a one year low of $60.23 and a one year high of $112.22. The business’s 50-day simple moving average is $100.15 and its 200 day simple moving average is $94.31. The stock has a market cap of $53.18 billion, a price-to-earnings ratio of 271.80, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) 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 firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities research analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the completion of the sale, the chief executive officer now owns 365,180 shares in the company, valued at approximately $40,366,997.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,056,669 shares of company stock worth $113,117,247. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings 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 purchasing an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings 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 valued at $211,500,000 after purchasing an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Trade Desk by 10.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after purchasing an additional 209,222 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Trade Desk by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after acquiring an additional 59,161 shares during the last quarter. Institutional investors and hedge funds 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.