The Trade Desk’s (TTD) Buy Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their buy rating on shares of The Trade Desk Inc. (NASDAQ:TTD) in a report released on Thursday morning. The brokerage currently has a $67.00 price target on the technology company’s stock, up from their previous price target of $62.00.

TTD has been the subject of a number of other reports. Needham & Company LLC restated a buy rating and set a $62.00 price objective (up from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. Zacks Investment Research lowered The Trade Desk from a buy rating to a hold rating in a research report on Thursday, July 13th. Jefferies Group LLC restated a buy rating and set a $60.00 price objective (up from $57.00) on shares of The Trade Desk in a research report on Friday, August 11th. Susquehanna Bancshares Inc restated a positive rating and set a $66.00 price objective (up from $60.00) on shares of The Trade Desk in a research report on Monday, August 14th. Finally, Royal Bank Of Canada restated an outperform rating and set a $65.00 price objective (up from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The Trade Desk currently has a consensus rating of Buy and an average target price of $58.09.

The Trade Desk (NASDAQ TTD) opened at 64.28 on Thursday. The firm has a market cap of $2.62 billion and a P/E ratio of 59.35. The stock’s 50 day moving average is $59.92 and its 200-day moving average is $59.92. The Trade Desk has a 1-year low of $22.01 and a 1-year high of $65.24.

The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The firm had revenue of $72.80 million during the quarter, compared to analyst estimates of $68.02 million. The firm’s revenue was up 54.2% compared to the same quarter last year. Analysts forecast that The Trade Desk will post $1.43 EPS for the current year.

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In related news, insider David Randall Pickles sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $55.60, for a total value of $4,170,000.00. Following the transaction, the insider now directly owns 240,517 shares of the company’s stock, valued at approximately $13,372,745.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Terry Green sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $53.84, for a total value of $484,560.00. Following the completion of the transaction, the insider now directly owns 130,885 shares in the company, valued at $7,046,848.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,704 shares of company stock valued at $17,504,114. 26.87% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of TTD. FMR LLC raised its stake in shares of The Trade Desk by 2,598.3% in the 1st quarter. FMR LLC now owns 1,397,700 shares of the technology company’s stock valued at $52,064,000 after acquiring an additional 1,345,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of The Trade Desk by 79.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after acquiring an additional 885,916 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of The Trade Desk by 109.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after acquiring an additional 748,795 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of The Trade Desk by 193.5% in the 2nd quarter. Renaissance Technologies LLC now owns 828,300 shares of the technology company’s stock valued at $41,506,000 after acquiring an additional 546,100 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of The Trade Desk by 79.5% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,196,045 shares of the technology company’s stock valued at $59,933,000 after acquiring an additional 529,645 shares in the last quarter. 62.80% of the stock is currently owned by institutional investors and hedge funds.

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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