Trade Desk (NASDAQ:TTD) had its target price boosted by Royal Bank of Canada to $250.00 in a research report report published on Friday morning, The Fly reports. They currently have a sector perform rating on the technology company’s stock.
A number of other research firms have also recently issued reports on TTD. Jefferies Financial Group cut Trade Desk from a buy rating to a hold rating and lifted their target price for the company from $225.00 to $250.00 in a research report on Thursday, July 18th. Needham & Company LLC initiated coverage on Trade Desk in a research report on Monday, April 22nd. They issued a hold rating and a $211.03 target price on the stock. TheStreet cut Trade Desk from a b- rating to a c- rating in a research report on Thursday, May 9th. JMP Securities cut Trade Desk from an outperform rating to a market perform rating in a research report on Tuesday, April 30th. Finally, Pivotal Research reiterated a buy rating and issued a $300.00 target price on shares of Trade Desk in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $225.67.
Trade Desk stock opened at $255.08 on Friday. Trade Desk has a 12-month low of $102.35 and a 12-month high of $289.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.62 and a current ratio of 1.62. The company has a 50-day simple moving average of $247.87. The company has a market capitalization of $12.18 billion, a PE ratio of 132.85, a PEG ratio of 7.49 and a beta of 2.72.
Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.51. Trade Desk had a return on equity of 25.24% and a net margin of 17.44%. The firm had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was up 42.4% on a year-over-year basis. Research analysts forecast that Trade Desk will post 1.83 earnings per share for the current year.
In related news, insider Susan Vobejda sold 365 shares of Trade Desk stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $242.00, for a total value of $88,330.00. Following the transaction, the insider now directly owns 37,194 shares of the company’s stock, valued at $9,000,948. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vivian Yang sold 7,195 shares of Trade Desk stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $235.19, for a total value of $1,692,192.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,515 shares of company stock worth $34,495,453. Company insiders own 17.44% of the company’s stock.
Several institutional investors have recently bought and sold shares of TTD. Baillie Gifford & Co. lifted its stake in shares of Trade Desk by 95.7% in the second quarter. Baillie Gifford & Co. now owns 2,518,927 shares of the technology company’s stock worth $573,761,000 after acquiring an additional 1,231,808 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Trade Desk by 72.6% in the second quarter. JPMorgan Chase & Co. now owns 2,227,743 shares of the technology company’s stock worth $515,613,000 after acquiring an additional 937,371 shares during the period. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter worth approximately $36,560,000. TCW Group Inc. lifted its stake in shares of Trade Desk by 552.5% in the first quarter. TCW Group Inc. now owns 201,198 shares of the technology company’s stock worth $39,827,000 after acquiring an additional 170,361 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Trade Desk by 785.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 122,040 shares of the technology company’s stock worth $27,798,000 after acquiring an additional 108,250 shares during the period. 67.44% of the stock is currently owned by institutional investors.
Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
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