The Trade Desk, Inc. (NASDAQ:TTD) Given Average Recommendation of "Moderate Buy" by Brokerages

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirty-two analysts that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and twenty-six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $97.12.

A number of brokerages have recently weighed in on TTD. Royal Bank of Canada lowered their target price on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Piper Sandler raised their target price on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. DA Davidson decreased their price target on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Oppenheimer raised their price target on Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 9th.

Trade Desk Price Performance

Trade Desk stock opened at $77.06 on Wednesday. The stock has a fifty day moving average price of $56.90 and a two-hundred day moving average price of $93.10. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The firm has a market capitalization of $38.23 billion, a P/E ratio of 98.79, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data 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 return on equity of 16.38% and a net margin of 16.08%. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the company posted $0.26 earnings per share. The business's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

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

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC increased its position in shares of Trade Desk by 4.2% during the 1st quarter. Belpointe Asset Management LLC now owns 15,723 shares of the technology company's stock worth $860,000 after purchasing an additional 628 shares during the last quarter. Fortis Capital Advisors LLC increased its position in shares of Trade Desk by 32.1% during the 1st quarter. Fortis Capital Advisors LLC now owns 15,723 shares of the technology company's stock worth $860,000 after purchasing an additional 3,818 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Trade Desk by 5,779.8% during the 1st quarter. Intech Investment Management LLC now owns 241,837 shares of the technology company's stock worth $13,233,000 after purchasing an additional 237,724 shares during the last quarter. Focus Partners Wealth increased its position in shares of Trade Desk by 236.3% during the 1st quarter. Focus Partners Wealth now owns 153,051 shares of the technology company's stock worth $8,375,000 after purchasing an additional 107,538 shares during the last quarter. Finally, Capital Impact Advisors LLC acquired a new position in shares of Trade Desk during the 1st quarter worth approximately $4,481,000. 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.

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