Wedbush Reiterates "Outperform" Rating for Trade Desk (NASDAQ:TTD)

Wedbush reaffirmed their outperform rating on shares of Trade Desk (NASDAQ:TTD - Free Report) in a research note released on Tuesday,Benzinga reports. Wedbush currently has a $86.00 price objective on the technology company's stock.

A number of other brokerages have also weighed in on TTD. Citizens Jmp cut their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a research report on Friday, June 6th. DA Davidson cut their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. UBS Group cut their target price on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Guggenheim cut their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and a consensus price target of $97.27.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded up $4.97 during trading hours on Tuesday, hitting $80.40. 43,604,499 shares of the stock were exchanged, compared to its average volume of 6,587,305. The company has a market cap of $39.51 billion, a PE ratio of 98.05, a price-to-earnings-growth ratio of 3.46 and a beta of 1.36. The company's fifty day simple moving average is $72.86 and its two-hundred day simple moving average is $77.69. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. As a group, sell-side analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction 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 directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 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. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TTD. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the fourth quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new position in shares of Trade Desk during the first quarter valued at about $26,000. Cloud Capital Management LLC purchased a new position in Trade Desk during the first quarter worth about $27,000. von Borstel & Associates Inc. purchased a new position in Trade Desk during the first quarter worth about $31,000. Finally, West Oak Capital LLC boosted its holdings in Trade Desk by 466.7% during the second quarter. West Oak Capital LLC now owns 425 shares of the technology company's stock worth $31,000 after purchasing an additional 350 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.