Trade Desk (NASDAQ:TTD) Rating Increased to Moderate Buy at Cfra Research

Cfra Research upgraded shares of Trade Desk (NASDAQ:TTD) to a moderate buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on TTD. Cantor Fitzgerald decreased their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. BMO Capital Markets decreased their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Citigroup reduced their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Susquehanna lowered their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. Finally, Royal Bank of Canada reduced their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $57.26 on Tuesday. Trade Desk has a 12 month low of $53.39 and a 12 month high of $141.53. The firm has a market capitalization of $28.41 billion, a P/E ratio of 73.41, a P/E/G ratio of 3.11 and a beta of 1.63. The company’s fifty day moving average price is $86.39 and its 200 day moving average price is $108.61.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, sell-side analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk during the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at $34,000. Institutional investors and hedge funds 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.