Trade Desk (NASDAQ:TTD) Price Target Raised to $125.00 at Needham & Company LLC

Trade Desk (NASDAQ:TTD) had its price objective hoisted by investment analysts at Needham & Company LLC from $115.00 to $125.00 in a report issued on Tuesday, MarketBeat reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 14.00% from the stock’s previous close.

Several other research firms also recently weighed in on TTD. Bank of America began coverage on Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target for the company. Susquehanna boosted their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Royal Bank of Canada lifted their price target 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. Morgan Stanley increased their price target on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $111.00 target price (up from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.43.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $109.65 on Tuesday. The company has a market capitalization of $53.63 billion, a P/E ratio of 274.13, a P/E/G ratio of 5.27 and a beta of 1.48. Trade Desk has a 1-year low of $60.23 and a 1-year high of $112.22. The firm’s 50 day simple moving average is $100.15 and its two-hundred day simple moving average is $94.31.

Trade Desk (NASDAQ:TTD) last issued its 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. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter in the prior year, the firm posted $0.07 EPS. Trade Desk’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk 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 transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. Insiders have sold 1,056,669 shares of company stock valued at $113,117,247 in the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Trade Desk by 1,277.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,719 shares of the technology company’s stock valued at $4,075,000 after buying an additional 38,691 shares in the last quarter. Lazari Capital Management Inc. purchased a new position in Trade Desk in the 2nd quarter valued at about $316,000. Sanctuary Advisors LLC acquired a new stake in Trade Desk in the 2nd quarter worth about $4,214,000. Strategic Investment Solutions Inc. IL acquired a new stake in Trade Desk in the 2nd quarter worth about $72,000. Finally, Clearbridge Investments LLC increased its stake in Trade Desk by 5.1% during the 2nd quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock worth $46,786,000 after buying an additional 23,073 shares in the last quarter. 67.77% of the stock is currently 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.