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

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $84.00 price target on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 57.69% from the company’s current price.

A number of other research firms also recently weighed in on TTD. Rosenblatt Securities reissued a “buy” rating on shares of Trade Desk in a research report on Friday. Moffett Nathanson downgraded Trade Desk from a “neutral” rating to a “sell” rating and set a $45.00 price objective on the stock. in a report on Friday, August 8th. Citizens Jmp decreased their price objective on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Scotiabank decreased their price objective on Trade Desk from $83.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, August 8th. Finally, Jefferies Financial Group downgraded Trade Desk from a “buy” rating to a “hold” rating and decreased their price objective for the company from $100.00 to $50.00 in a report on Monday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.33.

Trade Desk Stock Up 0.2%

TTD stock opened at $53.27 on Monday. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a market cap of $26.18 billion, a PE ratio of 64.18, a price-to-earnings-growth ratio of 2.74 and a beta of 1.37. The business’s 50-day simple moving average is $75.45 and its 200 day simple moving average is $72.10.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the completion of the sale, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. The trade was a 19.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently made changes to their positions in TTD. GAMMA Investing LLC increased its position in shares of Trade Desk by 3,876.8% in the 1st quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company’s stock valued at $5,033,000 after buying an additional 89,671 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Trade Desk in the 1st quarter valued at $995,000. LBP AM SA increased its position in shares of Trade Desk by 116.1% in the 1st quarter. LBP AM SA now owns 64,154 shares of the technology company’s stock valued at $3,511,000 after buying an additional 34,465 shares in the last quarter. Bryce Point Capital LLC increased its position in shares of Trade Desk by 302.9% in the 1st quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company’s stock valued at $915,000 after buying an additional 12,575 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its position in shares of Trade Desk by 40.2% in the 1st quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company’s stock valued at $31,731,000 after buying an additional 166,332 shares in the last quarter. Institutional investors 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.