Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Susquehanna Analyst Says

Trade Desk (NASDAQ:TTD) had its target price hoisted by equities research analysts at Susquehanna from $135.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the technology company’s stock. Susquehanna’s price objective would indicate a potential upside of 25.27% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. BTIG Research boosted their target price on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Robert W. Baird raised their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Finally, New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $118.19.

Trade Desk Trading Down 9.7 %

Shares of NASDAQ:TTD traded down $12.79 during trading on Friday, reaching $119.74. 3,801,901 shares of the stock were exchanged, compared to its average volume of 3,773,160. The firm has a market cap of $58.86 billion, a PE ratio of 239.48, a PEG ratio of 6.00 and a beta of 1.47. Trade Desk has a 12 month low of $60.23 and a 12 month high of $132.65. The stock has a 50-day moving average price of $112.41 and a 200-day moving average price of $100.68.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. On average, sell-side analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 over the last ninety days. 9.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Trade Desk by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 81,279 shares of the technology company’s stock valued at $8,912,000 after buying an additional 9,435 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Trade Desk in the 3rd quarter valued at $1,508,000. Vance Wealth Inc. bought a new position in shares of Trade Desk in the 3rd quarter worth $219,000. Caprock Group LLC lifted its stake in shares of Trade Desk by 1.0% during the 3rd quarter. Caprock Group LLC now owns 12,883 shares of the technology company’s stock worth $1,413,000 after purchasing an additional 132 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in Trade Desk by 14.1% during the third quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock valued at $2,005,000 after purchasing an additional 2,263 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.