Wall Street brokerages expect Trade Desk Inc (NASDAQ:TTD) to post sales of $116.62 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Trade Desk’s earnings. The lowest sales estimate is $115.94 million and the highest is $117.50 million. Trade Desk reported sales of $79.41 million during the same quarter last year, which indicates a positive year-over-year growth rate of 46.9%. The firm is expected to report its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Trade Desk will report full-year sales of $458.20 million for the current year, with estimates ranging from $456.03 million to $466.62 million. For the next year, analysts anticipate that the company will post sales of $600.06 million, with estimates ranging from $574.40 million to $624.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Trade Desk.
Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. Trade Desk had a net margin of 14.59% and a return on equity of 21.65%. The business had revenue of $112.30 million during the quarter, compared to analysts’ expectations of $103.87 million. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 54.3% on a year-over-year basis.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $174.00 price objective for the company in a research report on Friday, September 28th. Citigroup upped their price objective on shares of Trade Desk to $178.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective (up previously from $126.00) on shares of Trade Desk in a research report on Tuesday, September 25th. BidaskClub cut shares of Trade Desk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Rosenblatt Securities started coverage on shares of Trade Desk in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $138.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $113.42.
In other news, COO Robert David Perdue sold 20,000 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $86.55, for a total transaction of $1,731,000.00. Following the completion of the transaction, the chief operating officer now directly owns 152,093 shares in the company, valued at approximately $13,163,649.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Randall Pickles sold 50,000 shares of the stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $94.05, for a total transaction of $4,702,500.00. Following the transaction, the insider now owns 96,237 shares of the company’s stock, valued at $9,051,089.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 884,994 shares of company stock valued at $109,066,063. Company insiders own 23.54% of the company’s stock.
Several institutional investors have recently bought and sold shares of TTD. FMR LLC boosted its stake in shares of Trade Desk by 106.3% during the 2nd quarter. FMR LLC now owns 1,715,441 shares of the technology company’s stock worth $160,908,000 after buying an additional 883,811 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Trade Desk by 39.5% during the 2nd quarter. BlackRock Inc. now owns 1,992,379 shares of the technology company’s stock worth $186,884,000 after buying an additional 564,170 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Trade Desk during the 2nd quarter worth about $37,534,000. Summit Trail Advisors LLC boosted its stake in shares of Trade Desk by 7,946.3% during the 1st quarter. Summit Trail Advisors LLC now owns 404,647 shares of the technology company’s stock worth $405,000 after buying an additional 399,618 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Trade Desk by 93.1% during the 2nd quarter. Renaissance Technologies LLC now owns 552,105 shares of the technology company’s stock worth $51,787,000 after buying an additional 266,205 shares during the last quarter. Institutional investors own 71.71% of the company’s stock.
Shares of TTD traded up $5.33 during trading hours on Monday, reaching $123.06. The stock had a trading volume of 1,997,595 shares, compared to its average volume of 1,123,646. Trade Desk has a 52 week low of $40.70 and a 52 week high of $161.50. The stock has a market cap of $6.48 billion, a P/E ratio of 103.41, a P/E/G ratio of 4.21 and a beta of 3.05.
About Trade Desk
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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