Trade Desk (NASDAQ:TTD) Given a $98.00 Price Target by BMO Capital Markets Analysts

Key Points

• BMO Capital Markets has set a target price of $98.00 for Trade Desk (NASDAQ:TTD), suggesting a potential upside of 76.01% from its previous close, reinforcing an "outperform" rating.
• Trade Desk's stock has recently seen a significant decline, dropping 37.0% to $55.68, with a trading volume well above average.
• Despite a revenue increase of 18.7% year-over-year, the company reported earnings per share of $0.41, missing the consensus estimate by $0.01.

Trade Desk (NASDAQ:TTD - Get Free Report) has been assigned a $98.00 price target by equities researchers at BMO Capital Markets in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has an "outperform" rating on the technology company's stock. BMO Capital Markets' target price would indicate a potential upside of 76.01% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. Piper Sandler upped their target price on shares of Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI upgraded shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 target price for the company in a research note on Friday, June 27th. Finally, Truist Financial upped their target price on shares of Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $93.18.

Trade Desk Stock Down 37.0%

Shares of Trade Desk stock traded down $32.65 during trading hours on Friday, hitting $55.68. The company's stock had a trading volume of 74,472,483 shares, compared to its average volume of 10,570,795. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The business has a fifty day moving average of $76.70 and a 200 day moving average of $73.84. The company has a market capitalization of $27.36 billion, a PE ratio of 67.72, a P/E/G ratio of 4.07 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. Trade Desk's revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. On average, sell-side analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Investment Management Corp VA ADV bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Sound Income Strategies LLC boosted its holdings in shares of Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock valued at $26,000 after acquiring an additional 270 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $47,000. BNP Paribas bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $50,000. Finally, West Oak Capital LLC boosted its holdings in shares of Trade Desk by 466.7% in the second quarter. West Oak Capital LLC now owns 425 shares of the technology company's stock valued at $31,000 after acquiring an additional 350 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.