Rosenblatt Securities Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Free Report) had its price objective hoisted by Rosenblatt Securities from $77.00 to $78.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Several other analysts have also commented on the company. Susquehanna dropped their target price on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $84.00 price target on shares of Trade Desk in a research report on Thursday, May 15th. Finally, Wells Fargo & Company lowered their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

Trade Desk Stock Performance

NASDAQ:TTD traded up $0.35 during trading hours on Friday, reaching $71.46. The company's stock had a trading volume of 9,055,417 shares, compared to its average volume of 6,117,076. The stock has a 50 day moving average price of $61.50 and a two-hundred day moving average price of $88.85. The company has a market capitalization of $35.12 billion, a P/E ratio of 91.62, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53.

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

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction that occurred on 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 now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Institutional Trading of Trade Desk

Several hedge funds have recently made changes to their positions in TTD. Anderson Financial Strategies LLC acquired a new position in Trade Desk during the 1st quarter worth approximately $109,000. Strs Ohio acquired a new position in Trade Desk during the first quarter worth $13,872,000. Wealth Management Associates Inc. raised its position in Trade Desk by 6.6% in the first quarter. Wealth Management Associates Inc. now owns 12,057 shares of the technology company's stock worth $660,000 after acquiring an additional 743 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Trade Desk by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 56,413 shares of the technology company's stock valued at $3,087,000 after acquiring an additional 21,199 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in shares of Trade Desk by 1.7% during the 1st quarter. IFM Investors Pty Ltd now owns 80,948 shares of the technology company's stock worth $4,429,000 after purchasing an additional 1,370 shares in the last quarter. Institutional investors and hedge funds 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.