BTIG Research Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price target raised by investment analysts at BTIG Research from $114.00 to $142.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. BTIG Research’s target price suggests a potential upside of 18.13% from the company’s previous close.

Several other research analysts have also weighed in on TTD. Wedbush reissued an “outperform” rating and set a $115.00 price objective (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. KeyCorp raised their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Susquehanna raised their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, New Street Research lowered shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target for the company. in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $115.60.

Trade Desk Stock Down 1.5 %

NASDAQ:TTD opened at $120.21 on Wednesday. The company has a market cap of $58.80 billion, a P/E ratio of 299.30, a P/E/G ratio of 5.75 and a beta of 1.48. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $123.85. The firm’s 50 day moving average is $110.15 and its two-hundred day moving average is $99.05.

Trade Desk (NASDAQ:TTD) last issued 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 net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the firm posted $0.07 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts forecast that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the sale, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $80,102,994.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock worth $170,121,565 over the last 90 days. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its stake in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after acquiring an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in shares of Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after acquiring an additional 100,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Trade Desk by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after acquiring an additional 59,161 shares during the period. Marshall Wace LLP lifted its stake in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Trade Desk by 12.3% in the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock worth $159,151,000 after acquiring an additional 177,832 shares during the period. 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.