Trade Desk (NASDAQ:TTD) PT Raised to $120.00

Trade Desk (NASDAQ:TTD) had its price target hoisted by Truist Financial from $108.00 to $120.00 in a report issued on Wednesday, Marketbeat.com reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also issued reports on TTD. Piper Sandler reissued an overweight rating and set a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. Wedbush restated an outperform rating and issued a $115.00 price objective (up from $110.00) on shares of Trade Desk in a research report on Thursday, September 12th. 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. Macquarie reissued an outperform rating and issued a $115.00 price target on shares of Trade Desk in a research note on Friday, August 9th. Finally, Moffett Nathanson started coverage on shares of Trade Desk in a report on Monday, September 23rd. They issued a neutral rating and a $100.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk has a consensus rating of Moderate Buy and a consensus price target of $109.89.

Trade Desk Stock Performance

TTD stock opened at $113.00 on Wednesday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $113.84. The stock has a fifty day moving average of $101.52 and a 200-day moving average of $95.10. The company has a market capitalization 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 (NASDAQ:TTD) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $578.03 million. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,077,248 shares of company stock worth $115,353,156. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its position in Trade Desk by 12.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the technology company’s stock worth $522,000 after purchasing an additional 798 shares during the period. Allianz Asset Management GmbH boosted its position in Trade Desk by 16.1% in the fourth quarter. Allianz Asset Management GmbH now owns 52,702 shares of the technology company’s stock worth $3,792,000 after purchasing an additional 7,289 shares during the last quarter. Scotia Capital Inc. boosted its position in Trade Desk by 5.6% in the fourth quarter. Scotia Capital Inc. now owns 3,144 shares of the technology company’s stock worth $226,000 after purchasing an additional 167 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Trade Desk by 307.7% during the 4th quarter. Bank of Nova Scotia now owns 13,388 shares of the technology company’s stock valued at $963,000 after purchasing an additional 10,104 shares during the period. Finally, KBC Group NV increased its position in shares of Trade Desk by 104.5% during the 4th quarter. KBC Group NV now owns 80,672 shares of the technology company’s stock valued at $5,806,000 after purchasing an additional 41,221 shares during the last quarter. 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.