Trade Desk Inc (NASDAQ:TTD) has been given an average recommendation of "Buy" by the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $435.73.
A number of equities analysts have issued reports on the company. Pivotal Research increased their target price on Trade Desk from $345.00 to $550.00 and gave the stock a "buy" rating in a report on Friday, August 7th. BidaskClub upgraded Trade Desk from a "hold" rating to a "buy" rating in a report on Wednesday. KeyCorp initiated coverage on Trade Desk in a report on Monday, September 14th. They issued an "overweight" rating and a $580.00 target price on the stock. Royal Bank of Canada increased their target price on Trade Desk from $300.00 to $510.00 and gave the stock a "sector perform" rating in a report on Friday, August 7th. They noted that the move was a valuation call. Finally, Needham & Company LLC increased their target price on Trade Desk from $475.00 to $580.00 and gave the stock a "buy" rating in a report on Friday, August 7th.
NASDAQ:TTD opened at $457.27 on Thursday. The company has a market capitalization of $21.38 billion, a PE ratio of 184.38, a P/E/G ratio of 11.86 and a beta of 2.51. The company has a 50 day simple moving average of $460.23 and a two-hundred day simple moving average of $351.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.04 and a current ratio of 2.04. Trade Desk has a fifty-two week low of $136.00 and a fifty-two week high of $515.20.
Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.91. The firm had revenue of $139.40 million for the quarter, compared to analysts' expectations of $133.03 million. Trade Desk had a return on equity of 18.10% and a net margin of 17.57%. The company's revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. Research analysts predict that Trade Desk will post 1.41 EPS for the current year.
In other Trade Desk news, CFO Blake Jeffrey Grayson sold 83 shares of Trade Desk stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $477.50, for a total transaction of $39,632.50. Following the completion of the transaction, the chief financial officer now owns 23,165 shares of the company's stock, valued at approximately $11,061,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Susan Vobejda sold 1,240 shares of Trade Desk stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $456.00, for a total value of $565,440.00. Following the transaction, the chief marketing officer now directly owns 36,519 shares of the company's stock, valued at approximately $16,652,664. The disclosure for this sale can be found here. In the last three months, insiders sold 5,652 shares of company stock valued at $2,717,096. 13.12% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of TTD. Larson Financial Group LLC increased its stake in Trade Desk by 105.1% in the 2nd quarter. Larson Financial Group LLC now owns 80 shares of the technology company's stock worth $33,000 after purchasing an additional 41 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Trade Desk in the 2nd quarter worth approximately $33,000. RPG Investment Advisory LLC purchased a new position in Trade Desk in the 2nd quarter worth approximately $33,000. Sound Income Strategies LLC increased its stake in Trade Desk by 770.0% in the 2nd quarter. Sound Income Strategies LLC now owns 87 shares of the technology company's stock worth $35,000 after purchasing an additional 77 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Trade Desk by 79.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 194 shares of the technology company's stock worth $37,000 after purchasing an additional 86 shares during the period. 71.70% of the stock is owned by institutional investors and hedge funds.
About Trade Desk
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
Further Reading: Asset Allocation
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