Brokerages Set The Trade Desk, Inc. (NASDAQ:TTD) Target Price at $119.45

The Trade Desk, Inc. (NASDAQ:TTD) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $119.45.

Several research firms have commented on TTD. Oppenheimer cut their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. UBS Group boosted their target price on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus dropped their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th.

Trade Desk Stock Down 2.4 %

TTD stock opened at $58.84 on Friday. The firm has a 50 day moving average of $102.74 and a two-hundred day moving average of $112.90. Trade Desk has a 12 month low of $58.57 and a 12 month high of $141.53. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 75.44, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, research analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last three months. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Edgewood Management LLC increased its holdings in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Norges Bank acquired a new stake in Trade Desk during the fourth quarter worth approximately $524,187,000. Brown Advisory Inc. increased its stake in Trade Desk by 3,037.0% during the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock worth $319,089,000 after acquiring an additional 2,628,409 shares during the period. Jennison Associates LLC raised its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Trade Desk during the 4th quarter valued at $231,570,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.