Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by Cfra Research

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at Cfra Research to a “moderate buy” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on TTD. Wells Fargo & Company dropped their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their target price for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. BMO Capital Markets decreased their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada cut their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Stock Down 2.6 %

Shares of TTD stock opened at $57.26 on Tuesday. The company has a 50 day moving average price of $86.39 and a 200-day moving average price of $108.61. Trade Desk has a 52 week low of $53.39 and a 52 week high of $141.53. The firm has a market capitalization of $28.41 billion, a PE ratio of 73.41, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new position in Trade Desk in the 4th quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new stake in Trade Desk in the fourth quarter worth about $34,000. Finally, Midwest Capital Advisors LLC bought a new position in Trade Desk during the 4th quarter worth about $34,000. Hedge funds and other institutional investors 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.