Cantor Fitzgerald Reiterates Neutral Rating for Trade Desk (NASDAQ:TTD)

Cantor Fitzgerald restated their neutral rating on shares of Trade Desk (NASDAQ:TTD) in a report released on Monday morning, Benzinga reports. They currently have a $110.00 price objective on the technology company’s stock.

A number of other equities research analysts also recently weighed in on TTD. Evercore ISI upgraded Trade Desk to a strong-buy rating in a research report on Tuesday, August 6th. Wedbush reaffirmed an outperform rating and set a $115.00 target price (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Needham & Company LLC reissued a buy rating and issued a $115.00 price target on shares of Trade Desk in a report on Wednesday, September 11th. Loop Capital lifted their price objective on shares of Trade Desk from $109.00 to $120.00 and gave the stock a buy rating in a research note on Monday, August 26th. Finally, Bank of America began coverage on shares of Trade Desk in a report on Wednesday, September 4th. They issued a buy rating and a $135.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $109.89.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $111.46 on Monday. Trade Desk has a 1-year low of $60.23 and a 1-year high of $112.22. The company has a market capitalization of $54.52 billion, a P/E ratio of 273.73, a PEG ratio of 5.27 and a beta of 1.48. The business’s fifty day moving average price is $100.69 and its two-hundred day moving average price is $94.64.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the firm posted $0.07 EPS. Trade Desk’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $70,606,106.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares of the company’s stock, valued at $9,887,713. The disclosure for this sale can be found here. Insiders sold 1,077,248 shares of company stock valued at $115,353,156 over the last three months. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Pinnacle Bancorp Inc. increased its holdings in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co bought a new stake in Trade Desk during the first quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in Trade Desk during the second quarter valued at approximately $30,000. EdgeRock Capital LLC bought a new position in shares of Trade Desk in the second quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in shares of Trade Desk in the second quarter worth $41,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

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.