Vetr Downgrades Trade Desk (TTD) to Buy

Trade Desk (NASDAQ:TTD) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, January 23rd. They presently have a $52.18 price target on the technology company’s stock. Vetr‘s price target points to a potential upside of 10.53% from the company’s current price.

Other analysts have also issued reports about the company. Zacks Investment Research upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, January 11th. BidaskClub lowered Trade Desk from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective (up from $62.00) on shares of Trade Desk in a research report on Thursday, October 5th. SunTrust Banks reiterated a “buy” rating and issued a $60.00 price objective on shares of Trade Desk in a research report on Friday, January 12th. Finally, JMP Securities started coverage on Trade Desk in a research report on Monday, October 2nd. They issued an “outperform” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.67.

Shares of Trade Desk (NASDAQ:TTD) traded up $1.99 during midday trading on Tuesday, hitting $47.21. The company’s stock had a trading volume of 1,144,388 shares, compared to its average volume of 864,761. The company has a market capitalization of $1,940.00 and a PE ratio of 46.28. Trade Desk has a 12 month low of $30.50 and a 12 month high of $67.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56.

In other news, insider Brian John Stempeck sold 10,000 shares of Trade Desk stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.78, for a total transaction of $487,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Robert David Perdue sold 513 shares of Trade Desk stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $50.00, for a total value of $25,650.00. Following the transaction, the chief operating officer now owns 133,956 shares in the company, valued at approximately $6,697,800. The disclosure for this sale can be found here. Insiders have sold a total of 80,924 shares of company stock worth $3,935,683 in the last quarter. 26.87% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its stake in Trade Desk by 22.7% in the 4th quarter. Alliancebernstein L.P. now owns 2,620,560 shares of the technology company’s stock valued at $119,838,000 after acquiring an additional 484,238 shares in the last quarter. Vanguard Group Inc. lifted its stake in Trade Desk by 79.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after acquiring an additional 885,916 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Trade Desk by 33.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,859,515 shares of the technology company’s stock valued at $85,036,000 after acquiring an additional 463,352 shares in the last quarter. FMR LLC lifted its stake in Trade Desk by 12.7% in the 2nd quarter. FMR LLC now owns 1,575,792 shares of the technology company’s stock valued at $78,963,000 after acquiring an additional 178,092 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in Trade Desk by 33.6% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,465,060 shares of the technology company’s stock valued at $66,997,000 after acquiring an additional 368,555 shares in the last quarter. Hedge funds and other institutional investors own 67.80% of the company’s stock.

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About 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.

Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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