Trade Desk (NASDAQ:TTD) Price Target Raised to $142.00 at BTIG Research

Trade Desk (NASDAQ:TTD) had its price objective lifted by BTIG Research from $114.00 to $142.00 in a research report sent to investors on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on TTD. Morgan Stanley raised their price target on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company began coverage on shares of Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 target price on the stock. Macquarie lifted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Trading Down 0.8 %

NASDAQ:TTD opened at $119.19 on Wednesday. The company’s 50-day moving average price is $110.49 and its 200-day moving average price is $99.19. The company has a market cap of $58.59 billion, a P/E ratio of 239.04, a P/E/G ratio of 5.86 and a beta of 1.48. Trade Desk has a twelve month low of $60.23 and a twelve month high of $123.85.

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

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the transaction, the chief executive officer now owns 664,261 shares in the company, valued at approximately $68,897,150.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the transaction, the chief executive officer now owns 664,261 shares in the company, valued at approximately $68,897,150.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. lifted its holdings in Trade Desk by 10.5% in the 2nd 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. grew its position in shares of Trade Desk by 4.3% during 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 buying an additional 100,000 shares in the last quarter. 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 buying an additional 59,161 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after purchasing an additional 177,832 shares during the last quarter. 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.