Cantor Fitzgerald Reaffirms “Buy” Rating for The Trade Desk Inc. (TTD)

The Trade Desk Inc. (NASDAQ:TTD)‘s stock had its “buy” rating reaffirmed by Cantor Fitzgerald in a report released on Thursday. They presently have a $62.00 target price on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 4.13% from the stock’s current price.

Other analysts have also issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of The Trade Desk in a research report on Friday, August 11th. Needham & Company LLC restated a “buy” rating and set a $62.00 price target (up previously from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating on shares of The Trade Desk in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of The Trade Desk from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, June 21st. Finally, Citigroup Inc. restated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of The Trade Desk in a research report on Friday, August 11th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The Trade Desk has a consensus rating of “Buy” and a consensus target price of $56.00.

Shares of The Trade Desk (TTD) traded up 0.34% on Thursday, reaching $59.74. 316,523 shares of the company traded hands. The stock has a market capitalization of $2.44 billion and a price-to-earnings ratio of 55.16. The Trade Desk has a 1-year low of $22.01 and a 1-year high of $62.86. The company has a 50-day moving average of $60.54 and a 200-day moving average of $60.54.

The Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The company had revenue of $72.80 million for the quarter, compared to analyst estimates of $68.02 million. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The company’s quarterly revenue was up 54.2% on a year-over-year basis. Analysts anticipate that The Trade Desk will post $1.44 earnings per share for the current fiscal year.

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In other news, COO Robert David Perdue sold 12,500 shares of The Trade Desk stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $49.55, for a total value of $619,375.00. Following the sale, the chief operating officer now owns 80,836 shares in the company, valued at $4,005,423.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian John Stempeck sold 35,000 shares of The Trade Desk stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $49.19, for a total transaction of $1,721,650.00. Following the completion of the sale, the insider now owns 27,925 shares in the company, valued at approximately $1,373,630.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 344,215 shares of company stock worth $18,563,203. Company insiders own 26.87% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC acquired a new position in The Trade Desk during the fourth quarter worth about $235,000. Nationwide Fund Advisors boosted its position in The Trade Desk by 181.5% during the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock worth $105,000 after acquiring an additional 1,824 shares during the last quarter. Strs Ohio boosted its position in The Trade Desk by 100.0% during the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock worth $126,000 after acquiring an additional 1,700 shares during the last quarter. Wells Fargo & Company MN boosted its position in The Trade Desk by 21.5% during the first quarter. Wells Fargo & Company MN now owns 45,036 shares of the technology company’s stock worth $1,677,000 after acquiring an additional 7,972 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in The Trade Desk by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 19,992 shares during the last quarter. Institutional investors and hedge funds own 62.80% of the company’s stock.

About The Trade Desk

The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.

Analyst Recommendations for The Trade Desk (NASDAQ:TTD)

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