Trade Desk (NASDAQ:TTD) Price Target Increased to $140.00 by Analysts at Citigroup

Trade Desk (NASDAQ:TTD) had its price objective hoisted by Citigroup from $115.00 to $140.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley boosted their price objective on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Loop Capital boosted their price target 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. KeyCorp lifted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Benchmark raised their price target on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $112.97.

Trade Desk Price Performance

NASDAQ TTD opened at $117.94 on Wednesday. The stock has a market capitalization of $57.69 billion, a P/E ratio of 294.85, a PEG ratio of 5.68 and a beta of 1.48. The firm’s 50-day moving average is $105.52 and its two-hundred day moving average is $96.62. Trade Desk has a 12 month low of $60.23 and a 12 month high of $118.82.

Trade Desk (NASDAQ:TTD) last released its quarterly 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. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate 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 was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. As a group, analysts anticipate that Trade Desk will post 0.86 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 80,649 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total value of $9,314,959.50. Following the completion of the sale, the chief executive officer now directly owns 7,330 shares of the company’s stock, valued at approximately $846,615. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total value of $9,314,959.50. Following the completion of the sale, the chief executive officer now directly owns 7,330 shares of the company’s stock, valued at approximately $846,615. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the sale, the chief financial officer now owns 693,953 shares of the company’s stock, valued at $80,102,994.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock worth $170,095,115 in the last quarter. 10.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently modified their holdings of the stock. 1832 Asset Management L.P. increased its stake in Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after buying an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. raised its holdings in Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after purchasing an additional 100,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Trade Desk by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after purchasing an additional 59,161 shares during the period. Marshall Wace LLP boosted its holdings in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after purchasing an additional 872,555 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Trade Desk by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock worth $159,151,000 after purchasing an additional 177,832 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.