Trade Desk (NASDAQ:TTD) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other equities research analysts have also commented on TTD. Truist Financial upped their price target on shares of Trade Desk from $105.00 to $108.00 and gave the company a buy rating in a research report on Friday, August 9th. Wolfe Research began coverage on shares of Trade Desk in a report on Tuesday, July 16th. They set an outperform rating and a $115.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Trade Desk in a research note on Thursday, September 5th. They set a neutral rating and a $110.00 price target on the stock. Wedbush reissued an outperform rating and set a $115.00 price objective (up previously from $110.00) on shares of Trade Desk in a research report on Thursday, September 12th. Finally, Macquarie reiterated an outperform rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $109.05.

Trade Desk Price Performance

Trade Desk stock opened at $110.14 on Monday. Trade Desk has a one year low of $60.23 and a one year high of $111.80. The business’s fifty day moving average is $98.55 and its 200 day moving average is $92.74. The stock has a market capitalization of $54.14 billion, a PE ratio of 275.36, a price-to-earnings-growth ratio of 5.07 and a beta of 1.48.

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

Insider Activity

In related news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 596,748 shares of company stock worth $61,010,053. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter worth about $255,316,000. 1832 Asset Management L.P. bought a new position in Trade Desk in the 1st quarter worth about $225,710,000. Marshall Wace LLP increased its position in shares of Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares during the period. Vanguard Group Inc. raised its stake in shares of Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Trade Desk by 3,973.6% in the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after purchasing an additional 437,967 shares during the period. Hedge funds and other institutional investors 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.