The Trade Desk, Inc. (NASDAQ:TTD) Receives $89.75 Consensus Price Target from Analysts

The Trade Desk, Inc. (NASDAQ:TTD) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $89.75.

A number of research analysts recently commented on TTD shares. Stifel Nicolaus upped their price objective on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Trade Desk in a report on Thursday, March 21st. Piper Sandler upped their price objective on Trade Desk from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Susquehanna upped their price objective on Trade Desk from $75.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Finally, Oppenheimer upped their price objective on Trade Desk from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 16th.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 2,136 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jay R. Grant sold 2,136 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,551,987 shares in the company, valued at approximately $126,905,976.99. The disclosure for this sale can be found here. Insiders have sold 492,170 shares of company stock valued at $41,250,398 over the last quarter. 10.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Large investors have recently bought and sold shares of the stock. AE Wealth Management LLC boosted its stake in Trade Desk by 0.5% in the third quarter. AE Wealth Management LLC now owns 85,055 shares of the technology company’s stock valued at $6,647,000 after acquiring an additional 403 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Trade Desk by 1.4% during the third quarter. California Public Employees Retirement System now owns 808,509 shares of the technology company’s stock worth $63,185,000 after buying an additional 11,356 shares during the period. Nordea Investment Management AB boosted its stake in shares of Trade Desk by 31.7% during the fourth quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock worth $44,226,000 after buying an additional 147,717 shares during the period. Raymond James & Associates boosted its stake in shares of Trade Desk by 12.8% during the fourth quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock worth $18,161,000 after buying an additional 28,714 shares during the period. Finally, Riverbridge Partners LLC boosted its stake in shares of Trade Desk by 14,112.7% during the third quarter. Riverbridge Partners LLC now owns 479,962 shares of the technology company’s stock worth $37,509,000 after buying an additional 476,585 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $80.81 on Tuesday. The stock has a market cap of $39.51 billion, a P/E ratio of 224.48, a P/E/G ratio of 4.53 and a beta of 1.50. The stock’s 50 day simple moving average is $82.85 and its 200-day simple moving average is $75.67. Trade Desk has a 1-year low of $59.36 and a 1-year high of $94.00.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.05). The company had revenue of $605.80 million for the quarter, compared to analyst estimates of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. As a group, research analysts expect that Trade Desk will post 0.79 EPS for the current fiscal year.

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.