Vetr upgraded shares of The Trade Desk Inc. (NASDAQ:TTD) from a buy rating to a strong-buy rating in a research report report published on Tuesday, October 17th. They currently have $71.92 price objective on the technology company’s stock.
A number of other analysts have also recently commented on TTD. Cantor Fitzgerald set a $60.00 price target on The Trade Desk and gave the stock a buy rating in a research report on Thursday, June 22nd. Zacks Investment Research cut The Trade Desk from a buy rating to a hold rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a buy rating and issued a $57.00 price objective on shares of The Trade Desk in a report on Friday, June 23rd. BidaskClub raised The Trade Desk from a hold rating to a buy rating in a report on Tuesday, September 12th. Finally, Macquarie began coverage on The Trade Desk in a report on Thursday, October 12th. They issued an outperform rating and a $78.00 price objective for the company. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The Trade Desk currently has a consensus rating of Buy and an average price target of $66.63.
Shares of The Trade Desk (TTD) opened at 62.68 on Tuesday. The firm has a 50-day moving average price of $61.58 and a 200 day moving average price of $61.58. The Trade Desk has a 12-month low of $22.01 and a 12-month high of $67.30. The company has a market capitalization of $2.56 billion and a P/E ratio of 57.88.
The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The firm had revenue of $72.80 million for the quarter, compared to the consensus estimate of $68.02 million. The firm’s revenue for the quarter was up 54.2% on a year-over-year basis. On average, equities research analysts predict that The Trade Desk will post $1.43 earnings per share for the current year.
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In related news, insider David Randall Pickles sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $49.91, for a total value of $3,743,250.00. Following the transaction, the insider now directly owns 127,736 shares in the company, valued at $6,375,303.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Terry Green sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $52.98, for a total value of $476,820.00. Following the completion of the transaction, the insider now owns 117,400 shares in the company, valued at $6,219,852. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,409 shares of company stock valued at $13,751,102. 26.87% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Nationwide Fund Advisors raised its stake in shares of The Trade Desk by 181.5% in the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,824 shares in the last quarter. Advisor Group Inc. raised its stake in shares of The Trade Desk by 9,856.5% in the second quarter. Advisor Group Inc. now owns 2,290 shares of the technology company’s stock valued at $115,000 after acquiring an additional 2,267 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of The Trade Desk by 665.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the technology company’s stock valued at $117,000 after acquiring an additional 2,029 shares in the last quarter. American International Group Inc. acquired a new stake in shares of The Trade Desk in the first quarter valued at $126,000. Finally, Legal & General Group Plc raised its stake in shares of The Trade Desk by 75.4% in the second quarter. Legal & General Group Plc now owns 3,872 shares of the technology company’s stock valued at $195,000 after acquiring an additional 1,664 shares in the last quarter. Institutional investors and hedge funds own 62.86% of the company’s stock.
About The Trade Desk
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.
To view Vetr’s full report, visit Vetr’s official website.
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