Trade Desk (NASDAQ:TTD) Price Target Raised to $135.00 at Wedbush

Trade Desk (NASDAQ:TTD) had its price objective boosted by Wedbush from $115.00 to $135.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Wedbush’s price target indicates a potential upside of 11.88% from the company’s previous close.

A number of other research firms also recently issued reports on TTD. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a research note on Monday, October 7th. Wolfe Research started coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price for the company. Morgan Stanley increased their price target on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Benchmark reaffirmed a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.93.

Trade Desk Stock Down 9.0 %

TTD traded down $11.87 during midday trading on Friday, hitting $120.66. 5,650,239 shares of the company traded hands, compared to its average volume of 3,781,678. The company’s 50-day moving average is $112.41 and its 200 day moving average is $100.68. Trade Desk has a 52 week low of $60.23 and a 52 week high of $132.65. The firm has a market capitalization of $59.31 billion, a PE ratio of 240.60, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47.

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, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, sell-side analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the completion of the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $80,102,994.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,557,897 shares of company stock worth $170,121,565. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Venture Visionary Partners LLC lifted its position in Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after buying an additional 4,296 shares during the last quarter. Sei Investments Co. increased its stake in Trade Desk by 16.3% in the first quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock worth $21,521,000 after purchasing an additional 34,520 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Trade Desk by 5.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock worth $9,179,000 after purchasing an additional 5,148 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Trade Desk by 61.2% during the first quarter. Blair William & Co. IL now owns 15,525 shares of the technology company’s stock valued at $1,357,000 after purchasing an additional 5,893 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Trade Desk by 12.1% in the first quarter. Russell Investments Group Ltd. now owns 144,350 shares of the technology company’s stock worth $12,608,000 after purchasing an additional 15,550 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

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.