Needham & Company LLC Reiterates “Buy” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $84.00 target price on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 67.63% from the stock’s current price.

Several other research analysts have also commented on TTD. UBS Group cut their price objective on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Piper Sandler initiated coverage on shares of Trade Desk in a research note on Thursday, April 17th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.90.

Trade Desk Trading Up 3.0 %

Shares of TTD opened at $50.11 on Tuesday. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a market capitalization of $24.86 billion, a P/E ratio of 64.24, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The stock’s fifty day simple moving average is $58.76 and its 200 day simple moving average is $100.32.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently modified their holdings of the stock. Pure Financial Advisors LLC boosted its position in shares of Trade Desk by 11.1% in the first quarter. Pure Financial Advisors LLC now owns 4,944 shares of the technology company’s stock worth $271,000 after buying an additional 495 shares during the period. Wealth Effects LLC lifted its position in shares of Trade Desk by 11.5% in the first quarter. Wealth Effects LLC now owns 64,742 shares of the technology company’s stock worth $3,543,000 after buying an additional 6,684 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Trade Desk by 133.0% during the first quarter. Perigon Wealth Management LLC now owns 13,003 shares of the technology company’s stock valued at $712,000 after purchasing an additional 7,422 shares during the last quarter. Alpine Bank Wealth Management bought a new position in Trade Desk in the 1st quarter worth $35,000. Finally, HBK Sorce Advisory LLC lifted its position in Trade Desk by 11.7% during the 1st quarter. HBK Sorce Advisory LLC now owns 6,381 shares of the technology company’s stock worth $349,000 after acquiring an additional 667 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.