Needham & Company LLC Raises Trade Desk (NASDAQ:TTD) Price Target to $125.00

Trade Desk (NASDAQ:TTD) had its price objective hoisted by Needham & Company LLC from $115.00 to $125.00 in a report published on Tuesday, Marketbeat reports. They currently have a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. KeyCorp boosted their target price on shares of Trade Desk from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Citigroup upped their price objective on shares of Trade Desk from $112.00 to $115.00 and gave the stock a buy rating in a report on Friday, August 9th. Loop Capital raised their target price on Trade Desk from $109.00 to $120.00 and gave the company a buy rating in a report on Monday, August 26th. Benchmark upped their price target on Trade Desk from $49.00 to $57.00 and gave the stock a sell rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued a neutral rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trade Desk currently has a consensus rating of Moderate Buy and an average target price of $109.89.

Trade Desk Stock Up 2.5 %

TTD opened at $111.46 on Tuesday. Trade Desk has a 12-month low of $60.23 and a 12-month high of $112.22. The firm has a market capitalization of $54.52 billion, a P/E ratio of 273.73, a PEG ratio of 5.27 and a beta of 1.48. The stock has a fifty day moving average of $100.69 and a 200-day moving average of $94.64.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The firm’s revenue was up 25.9% compared to the same quarter last year. On average, analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the transaction, the chief executive officer now owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $110.54, for a total value of $22,108,000.00. Following the completion of the sale, the chief executive officer now directly owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,077,248 shares of company stock worth $115,353,156. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new stake in shares of Trade Desk during the first quarter worth $225,710,000. Marshall Wace LLP grew its position in shares of Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares during the period. Vanguard Group Inc. increased its stake in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Trade Desk by 3,973.6% in the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after acquiring an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP boosted its stake in Trade Desk by 78.3% during the 1st quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after acquiring an additional 431,600 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.