DA Davidson Boosts Trade Desk (NASDAQ:TTD) Price Target to $134.00

Trade Desk (NASDAQ:TTD) had its price target lifted by equities research analysts at DA Davidson from $108.00 to $134.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 2.13% from the stock’s current price. DA Davidson also issued estimates for Trade Desk’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $0.82 EPS and FY2025 earnings at $1.08 EPS.

Several other brokerages also recently commented on TTD. Truist Financial lifted their target price on Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp boosted their price target on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer increased their price objective on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush upped their price target on shares of Trade Desk from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, BTIG Research lifted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.65.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $131.20 on Monday. The company has a 50-day simple moving average of $113.93 and a 200 day simple moving average of $101.92. The company has a market capitalization of $64.50 billion, a P/E ratio of 215.08, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. Trade Desk has a 52-week low of $61.47 and a 52-week high of $132.65.

Insider Activity

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on 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 directly owns 28,636 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,557,897 shares of company stock worth $170,121,565. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the company. Edgewood Management LLC increased its stake in shares of Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Trade Desk during the first quarter valued at about $225,710,000. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. Finally, International Assets Investment Management LLC increased its position in Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares in the last quarter. 67.77% of the stock is owned by 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.