Trade Desk (NASDAQ:TTD) Earns “Neutral” Rating from Cantor Fitzgerald

Trade Desk (NASDAQ:TTD)‘s stock had its “neutral” rating reissued by equities research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $110.00 target price on the technology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 0.63% from the company’s current price.

TTD has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. Wedbush reiterated an “outperform” rating and set a $115.00 target price (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Loop Capital increased their target price on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Wolfe Research initiated coverage on shares of Trade Desk in a report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price for the company. Finally, Benchmark raised their target price on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.05.

Trade Desk Stock Performance

TTD traded down $0.14 during trading on Monday, reaching $109.31. The stock had a trading volume of 842,612 shares, compared to its average volume of 3,921,960. The stock has a market cap of $53.73 billion, a PE ratio of 273.28, a PEG ratio of 5.33 and a beta of 1.48. Trade Desk has a one year low of $60.23 and a one year high of $112.22. The business has a 50-day moving average of $99.96 and a 200-day moving average of $94.09.

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 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 firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Equities research analysts forecast that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were 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 directly owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. In the last ninety days, insiders have 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

Several hedge funds have recently modified their holdings of TTD. Global Assets Advisory LLC acquired a new position in Trade Desk during the 1st quarter valued at approximately $2,626,000. Nordea Investment Management AB grew its position in Trade Desk by 11.4% during the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after buying an additional 70,201 shares during the period. Nicholas Company Inc. grew its position in Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after buying an additional 305,615 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Trade Desk during the first quarter valued at $3,011,000. Finally, International Assets Investment Management LLC grew its position in Trade Desk by 4.3% during the first quarter. International Assets Investment Management LLC now owns 15,825 shares of the technology company’s stock valued at $1,382,000 after buying an additional 656 shares during the period. 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.