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 - Free Report) in a research note released on Friday morning, MarketBeat Ratings reports. They currently have a $84.00 price target on the technology company's stock.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Stifel Nicolaus dropped their price target on Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Citizens Jmp reduced their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, BMO Capital Markets dropped their target price on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.15.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded up $0.35 during mid-day trading on Friday, reaching $71.46. 9,055,417 shares of the company traded hands, compared to its average volume of 6,117,076. The company's fifty day moving average is $61.50 and its two-hundred day moving average is $88.85. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock has a market cap of $35.12 billion, a PE ratio of 91.62, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm posted $0.26 earnings per share. The company's quarterly revenue was up 25.4% compared to the same quarter last year. Research analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Brown Advisory Inc. grew its position in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after buying an additional 5,387,339 shares during the period. Invesco Ltd. increased its stake in shares of Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after acquiring an additional 198,822 shares during the last quarter. Norges Bank acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $524,187,000. Finally, FMR LLC boosted its stake in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares during the last quarter. 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.