Trade Desk’s (TTD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a report issued on Monday,Benzinga reports. Needham & Company LLC currently has a $84.00 price objective on the technology company’s stock.

A number of other equities research analysts have also commented on TTD. Wells Fargo & Company dropped their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Oppenheimer lowered their price objective on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. KeyCorp cut their price objective on shares of Trade Desk from $74.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley cut their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.69.

Trade Desk Trading Down 1.6 %

Shares of TTD opened at $48.45 on Monday. The stock has a market cap of $24.04 billion, a P/E ratio of 62.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The stock’s 50-day moving average price is $64.37 and its two-hundred day moving average price is $102.42. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, equities analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, 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 sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk during the 4th quarter worth $25,000. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC boosted its stake in shares of Trade Desk by 68.8% in the 4th 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 in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. 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.