Citizens Jmp Upgrades Trade Desk (NASDAQ:TTD) to “Strong-Buy”

Trade Desk (NASDAQ:TTD) was upgraded by stock analysts at Citizens Jmp to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Evercore ISI boosted their price target on shares of Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. KeyCorp lifted their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Finally, Stifel Nicolaus raised their target price on Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.13.

Trade Desk Price Performance

TTD opened at $120.69 on Tuesday. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 197.85, a PEG ratio of 3.94 and a beta of 1.45. Trade Desk has a 1 year low of $66.56 and a 1 year high of $141.53. The stock’s 50 day simple moving average is $125.93 and its 200 day simple moving average is $113.29.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The firm had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of the business. Edgewood Management LLC increased its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. International Assets Investment Management LLC increased its stake in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after purchasing an additional 1,558,465 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after purchasing an additional 551,925 shares during the period. 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.