Trade Desk (NASDAQ:TTD) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a report published on Wednesday morning.

Several other equities research analysts also recently weighed in on TTD. Citigroup raised their target price on shares of Trade Desk from $112.00 to $115.00 and gave the company a buy rating in a research note on Friday, August 9th. Wolfe Research assumed coverage on Trade Desk in a research note on Tuesday, July 16th. They set an outperform rating and a $115.00 target price on the stock. Robert W. Baird increased their price target on Trade Desk from $110.00 to $130.00 and gave the company an outperform rating in a research note on Monday, August 12th. Cantor Fitzgerald reissued a neutral rating and issued a $110.00 price target on shares of Trade Desk in a report on Monday, September 30th. Finally, Evercore ISI upgraded shares of Trade Desk to a strong-buy rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has given 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 $109.89.

Trade Desk Stock Up 1.4 %

Shares of TTD stock opened at $113.00 on Wednesday. The firm has a market cap of $55.27 billion, a price-to-earnings ratio of 282.50, a PEG ratio of 5.23 and a beta of 1.48. Trade Desk has a 52-week low of $60.23 and a 52-week high of $113.84. The company’s 50 day moving average is $101.52 and its 200 day moving average is $95.10.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. Analysts anticipate that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the business’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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,077,248 shares of company stock worth $115,353,156 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TTD. Pinnacle Bancorp Inc. raised its stake in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co purchased a new stake in Trade Desk in the first quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in Trade Desk during the second quarter worth $30,000. EdgeRock Capital LLC purchased a new position in shares of Trade Desk during the second quarter worth $37,000. Finally, Quarry LP acquired a new stake in shares of Trade Desk in the second quarter valued at $41,000. Institutional investors and hedge funds own 67.77% 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.