DA Davidson Analysts Raise Earnings Estimates for Trade Desk

The Trade Desk, Inc. (NASDAQ:TTD) – Stock analysts at DA Davidson boosted their FY2024 earnings per share estimates for Trade Desk in a research report issued to clients and investors on Monday, November 11th. DA Davidson analyst T. White now anticipates that the technology company will earn $0.82 per share for the year, up from their previous estimate of $0.75. DA Davidson has a “Buy” rating and a $134.00 price target on the stock. The consensus estimate for Trade Desk’s current full-year earnings is $0.86 per share. DA Davidson also issued estimates for Trade Desk’s Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.08 EPS.

A number of other research analysts also recently issued reports on the company. Robert W. Baird upped their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC raised their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company began coverage on Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $122.65.

Trade Desk Stock Up 1.4 %

TTD stock opened at $131.20 on Tuesday. The business has a 50 day moving average of $113.93 and a 200-day moving average of $101.92. The firm has a market cap of $64.50 billion, a PE ratio of 215.08, a P/E/G ratio of 6.02 and a beta of 1.47. Trade Desk has a 12-month low of $61.47 and a 12-month high of $132.65.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC purchased a new position in Trade Desk in the 3rd quarter worth approximately $390,000. Westfield Capital Management Co. LP increased its stake in shares of Trade Desk by 43.6% in the third quarter. Westfield Capital Management Co. LP now owns 736,496 shares of the technology company’s stock worth $80,757,000 after buying an additional 223,727 shares during the period. Centaurus Financial Inc. raised its holdings in Trade Desk by 35.8% during the 3rd quarter. Centaurus Financial Inc. now owns 3,521 shares of the technology company’s stock valued at $386,000 after buying an additional 928 shares during the last quarter. Swedbank AB boosted its position in Trade Desk by 22.6% during the 3rd quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after buying an additional 53,130 shares during the period. Finally, Algert Global LLC grew its holdings in Trade Desk by 814.8% in the 3rd quarter. Algert Global LLC now owns 44,761 shares of the technology company’s stock worth $4,908,000 after acquiring an additional 39,868 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In other Trade Desk news, CFO Laura Schenkein sold 3,130 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.33, for a total transaction of $310,902.90. Following the sale, the chief financial officer now owns 693,953 shares in the company, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.33, for a total transaction of $310,902.90. Following the completion of the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $68,930,351.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,557,897 shares of company stock worth $170,121,565. Corporate insiders own 9.72% of the company’s stock.

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.