Analysts Set The Trade Desk, Inc. (NASDAQ:TTD) Price Target at $97.15

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $97.15.

Several analysts recently weighed in on TTD shares. Wells Fargo & Company dropped their price target on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Guggenheim reduced their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Truist Financial boosted their price target on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Rosenblatt Securities lifted their price target on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley increased their price objective on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th.

Trade Desk Stock Up 4.3%

TTD traded up $2.95 during trading on Friday, hitting $70.91. The company's stock had a trading volume of 1,862,593 shares, compared to its average volume of 6,152,184. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 90.72, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The firm's 50 day moving average price is $63.73 and its two-hundred day moving average price is $86.31.

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

Insider Buying and Selling at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the firm'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 trade represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in TTD. Centurion Wealth Management LLC increased its stake in shares of Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after buying an additional 96 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Trade Desk by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 4,871 shares of the technology company's stock valued at $572,000 after purchasing an additional 108 shares in the last quarter. Lane & Associates LLC lifted its position in shares of Trade Desk by 2.6% in the 4th quarter. Lane & Associates LLC now owns 4,256 shares of the technology company's stock worth $505,000 after purchasing an additional 108 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of Trade Desk by 1.7% during the fourth quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company's stock valued at $817,000 after purchasing an additional 116 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC increased its holdings in Trade Desk by 2.7% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock valued at $525,000 after buying an additional 117 shares during the period. 67.77% of the stock is owned by institutional investors.

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.