Trade Desk (NASDAQ:TTD) Stock Rating Reaffirmed by Wedbush

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $115.00 target price on the technology company’s stock, up from their prior target price of $110.00. Wedbush’s price objective indicates a potential upside of 8.43% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Trade Desk in a research note on Wednesday. Bank of America initiated coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price on the stock. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Cantor Fitzgerald started coverage on Trade Desk in a report on Thursday, September 5th. They set a “neutral” rating and a $110.00 price objective on the stock. Finally, Truist Financial lifted their target price on Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.05.

Trade Desk Trading Up 1.5 %

Shares of NASDAQ:TTD opened at $106.06 on Thursday. Trade Desk has a 12 month low of $60.23 and a 12 month high of $107.64. The company has a market capitalization of $52.14 billion, a price-to-earnings ratio of 265.16, a PEG ratio of 4.89 and a beta of 1.48. The firm’s 50-day moving average is $97.82 and its 200 day moving average is $91.95.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 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 quarter in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. Insiders sold 599,163 shares of company stock worth $61,246,529 in the last three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TTD. Pinnacle Bancorp Inc. raised its position in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co acquired a new position in Trade Desk in the 1st quarter worth about $27,000. Transcendent Capital Group LLC acquired a new position in Trade Desk in the 2nd quarter worth about $30,000. Bogart Wealth LLC boosted its position in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of Trade Desk in the second quarter valued at approximately $37,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.