Citigroup Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price target raised by Citigroup from $82.00 to $90.00 in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

TTD has been the topic of several other reports. KeyCorp increased 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. Macquarie upped their target price on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Piper Sandler boosted their price target on Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Evercore ISI upgraded Trade Desk from an “in-line” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.27.

Trade Desk Trading Up 2.1%

TTD opened at $73.49 on Tuesday. Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The firm has a 50 day moving average of $68.55 and a two-hundred day moving average of $81.21. The firm has a market capitalization of $36.12 billion, a PE ratio of 89.62, a P/E/G ratio of 3.30 and a beta of 1.36.

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

Insider Buying and Selling at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Centurion Wealth Management LLC lifted its position in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after buying an additional 96 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Trade Desk by 1.7% in the 4th quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company’s stock valued at $817,000 after buying an additional 116 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in shares of Trade Desk by 2.7% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company’s stock worth $525,000 after acquiring an additional 117 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Trade Desk by 8.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company’s stock worth $226,000 after acquiring an additional 133 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Trade Desk by 4.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 3,714 shares of the technology company’s stock worth $437,000 after acquiring an additional 144 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.