Trade Desk (NASDAQ:TTD) PT Raised to $130.00 at Macquarie

Trade Desk (NASDAQ:TTD) had its price objective hoisted by Macquarie from $115.00 to $130.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Macquarie’s target price points to a potential upside of 10.26% from the stock’s current price.

TTD has been the subject of a number of other research reports. Morgan Stanley increased their price objective on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. KeyCorp increased their price objective on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. BTIG Research raised their price target on Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup raised their price target on Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Susquehanna raised their price target on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.05.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $117.90 on Friday. Trade Desk has a one year low of $60.23 and a one year high of $118.34. The firm’s 50 day simple moving average is $104.17 and its two-hundred day simple moving average is $96.13. The stock has a market capitalization of $57.96 billion, a P/E ratio of 235.80, a PEG ratio of 5.57 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, equities analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s 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 transaction, the director now directly owns 32,701 shares in the company, valued at $3,216,797.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,897 shares of company stock worth $170,095,115 over the last three months. 9.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. increased its holdings in Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after buying an additional 163 shares in the last quarter. Riverview Trust Co bought a new stake in Trade Desk in the 1st quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in Trade Desk in the 2nd quarter worth about $30,000. EdgeRock Capital LLC bought a new stake in Trade Desk in the 2nd quarter worth about $37,000. Finally, Quarry LP bought a new stake in Trade Desk in the 2nd quarter worth about $41,000. 67.77% of the stock is currently owned by institutional investors.

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.