The Trade Desk, Inc. (NASDAQ:TTD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

The Trade Desk, Inc. (NASDAQ:TTD) has been given a consensus rating of “Moderate Buy” by the twenty-seven research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $93.69.

A number of equities research analysts have commented on TTD shares. Truist Financial reiterated a “buy” rating and issued a $105.00 price target on shares of Trade Desk in a research report on Thursday, May 16th. BMO Capital Markets reissued an “outperform” rating and issued a $108.00 price objective (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. DA Davidson boosted their price objective on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price objective on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, Wedbush initiated coverage on Trade Desk in a research note on Monday, June 17th. They issued an “outperform” rating and a $110.00 price objective on the stock.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 66,007 shares of Trade Desk stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $87.38, for a total transaction of $5,767,691.66. Following the completion of the sale, the chief executive officer now owns 1,051,622 shares of the company’s stock, valued at $91,890,730.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jeffrey Terry Green sold 66,007 shares of Trade Desk stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $87.38, for a total transaction of $5,767,691.66. Following the completion of the sale, the chief executive officer now owns 1,051,622 shares of the company’s stock, valued at $91,890,730.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 2,415 shares of Trade Desk stock in a transaction on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the sale, the director now directly owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,727 shares of company stock worth $23,117,417. 10.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 worth $3,003,666,000 after buying an additional 818,568 shares during the period. Jennison Associates LLC increased its holdings in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank purchased a new position in Trade Desk during the 4th quarter valued at about $255,316,000. 1832 Asset Management L.P. purchased a new position in Trade Desk during the 1st quarter valued at about $225,710,000. Finally, Jericho Capital Asset Management L.P. increased its holdings in Trade Desk by 4.3% during the 1st 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 during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD opened at $97.67 on Friday. Trade Desk has a 52-week low of $60.23 and a 52-week high of $99.54. The business’s fifty day moving average is $92.22 and its 200-day moving average is $82.42. The firm has a market cap of $47.77 billion, a price-to-earnings ratio of 244.18, a PEG ratio of 5.03 and a beta of 1.49.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, research analysts forecast that Trade Desk will post 0.85 EPS for the current fiscal year.

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.