Brokerages Set The Trade Desk, Inc. (NASDAQ:TTD) Price Target at $89.75

The Trade Desk, Inc. (NASDAQ:TTD) has been assigned a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $89.75.

Several research firms have weighed in on TTD. Wells Fargo & Company increased their price objective on Trade Desk from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. Piper Sandler increased their price objective on Trade Desk from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Susquehanna increased their price objective on Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. Truist Financial increased their price objective on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus raised their target price on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th.

Trade Desk Trading Up 0.8 %

Shares of Trade Desk stock opened at $80.81 on Tuesday. The business’s 50-day moving average price is $82.85 and its 200-day moving average price is $75.67. Trade Desk has a 12 month low of $59.36 and a 12 month high of $94.00. The firm has a market capitalization of $39.51 billion, a PE ratio of 224.48, a price-to-earnings-growth ratio of 4.53 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The company had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. As a group, analysts predict that Trade Desk will post 0.79 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 2,136 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now directly owns 139,794 shares in the company, valued at $12,515,756.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jay R. Grant sold 2,136 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the sale, the insider now directly owns 139,794 shares in the company, valued at $12,515,756.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the sale, the chief executive officer now owns 1,551,987 shares in the company, valued at $126,905,976.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 492,170 shares of company stock worth $41,250,398. Corporate insiders own 10.81% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. BlackRock Inc. grew its stake in shares of Trade Desk by 2.1% during the first quarter. BlackRock Inc. now owns 21,767,862 shares of the technology company’s stock valued at $1,325,880,000 after buying an additional 452,667 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after buying an additional 6,978,352 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Trade Desk by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,447,010 shares of the technology company’s stock valued at $647,660,000 after buying an additional 135,704 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Trade Desk by 10.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,367,719 shares of the technology company’s stock valued at $599,275,000 after buying an additional 1,239,936 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.