The Trade Desk Inc. (NASDAQ:TTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, October 17th. The firm currently has a $74.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.06% from the stock’s previous close.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
Several other brokerages have also recently weighed in on TTD. JMP Securities started coverage on The Trade Desk in a research report on Monday, October 2nd. They set an “outperform” rating and a $70.00 price target on the stock. BidaskClub upgraded The Trade Desk from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of The Trade Desk in a research report on Monday, October 2nd. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective (up from $62.00) on shares of The Trade Desk in a research report on Thursday, October 5th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $62.00 price objective on shares of The Trade Desk in a research report on Thursday, September 21st. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $66.63.
The Trade Desk (NASDAQ TTD) traded up 0.77% on Tuesday, reaching $63.16. 309,869 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $61.58 and its 200 day moving average price is $61.58. The firm has a market capitalization of $2.58 billion and a PE ratio of 58.32. The Trade Desk has a 52-week low of $22.01 and a 52-week high of $67.30.
The Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The business had revenue of $72.80 million for the quarter, compared to the consensus estimate of $68.02 million. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The Trade Desk’s revenue for the quarter was up 54.2% on a year-over-year basis. On average, analysts predict that The Trade Desk will post $1.43 EPS for the current fiscal year.
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In other news, insider David Randall Pickles sold 75,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $49.91, for a total transaction of $3,743,250.00. Following the completion of the sale, the insider now owns 127,736 shares of the company’s stock, valued at $6,375,303.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Robert David Perdue sold 12,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $53.34, for a total value of $666,750.00. Following the completion of the sale, the chief operating officer now directly owns 89,766 shares of the company’s stock, valued at approximately $4,788,118.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 245,409 shares of company stock valued at $13,751,102. Insiders own 26.87% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. First Trust Advisors LP purchased a new position in The Trade Desk during the third quarter valued at $1,945,000. Nationwide Fund Advisors lifted its position in The Trade Desk by 236.2% during the third quarter. Nationwide Fund Advisors now owns 33,229 shares of the technology company’s stock valued at $2,044,000 after buying an additional 23,344 shares during the period. Strs Ohio lifted its position in The Trade Desk by 48.5% during the third quarter. Strs Ohio now owns 10,100 shares of the technology company’s stock valued at $621,000 after buying an additional 3,300 shares during the period. Deane Retirement Strategies Inc. purchased a new position in The Trade Desk during the third quarter valued at $2,032,000. Finally, Lord Abbett & CO. LLC lifted its position in The Trade Desk by 109.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after buying an additional 748,795 shares during the period. 62.86% of the stock is owned by institutional investors and hedge funds.
The Trade Desk Company Profile
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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