JMP Securities Reiterates “Market Outperform” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a report released on Tuesday,Benzinga reports. They presently have a $100.00 price target on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 43.27% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Truist Financial boosted their price target on Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. UBS Group lowered their price target 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. DA Davidson lowered their price target on Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. KeyCorp boosted their price target on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Guggenheim lowered their price target on Trade Desk from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $97.15.

Trade Desk Price Performance

NASDAQ:TTD opened at $69.80 on Tuesday. The business’s 50-day simple moving average is $66.83 and its 200-day simple moving average is $83.30. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock has a market capitalization of $34.30 billion, a PE ratio of 85.12, a price-to-earnings-growth ratio of 3.30 and a beta of 1.41.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm earned $0.26 EPS. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, research analysts expect that Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares of the company’s stock, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently added to or reduced their stakes in TTD. Centurion Wealth Management LLC grew its stake in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after acquiring an additional 96 shares during the period. Great Lakes Advisors LLC grew its stake in Trade Desk by 1.7% in the fourth quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company’s stock valued at $817,000 after acquiring an additional 116 shares during the period. Douglass Winthrop Advisors LLC grew its stake in Trade Desk by 2.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $525,000 after acquiring an additional 117 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in Trade Desk by 8.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company’s stock valued at $226,000 after acquiring an additional 133 shares during the period. Finally, Verdence Capital Advisors LLC grew its stake in Trade Desk by 4.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,714 shares of the technology company’s stock valued at $437,000 after acquiring an additional 144 shares during the period. 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.