Trade Desk (NASDAQ:TTD) Price Target Raised to $97.00 at BTIG Research

Key Points

• BTIG Research has raised the price target for Trade Desk (NASDAQ:TTD) from $79.00 to $97.00, maintaining a "buy" rating, indicating a potential upside of 12.69% from the current price.
• Trade Desk reported a quarterly EPS of $0.33, beating estimates and reflecting a 25.4% increase in revenue year-over-year, totaling $616.02 million.
• A significant portion of Trade Desk stock is owned by institutional investors, holding 67.77% of the company, highlighting strong interest from larger investment entities.

Trade Desk (NASDAQ:TTD - Get Free Report) had its target price lifted by analysts at BTIG Research from $79.00 to $97.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. BTIG Research's price objective would indicate a potential upside of 12.69% from the stock's current price.

A number of other analysts have also weighed in on the stock. Piper Sandler raised their price target on shares of Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a research note on Friday, June 6th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating and set a $86.00 price target on shares of Trade Desk in a research note on Tuesday, July 15th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.73.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $86.08 on Monday. The company's fifty day moving average is $75.63 and its 200-day moving average is $74.12. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market capitalization of $42.30 billion, a PE ratio of 104.98, a P/E/G ratio of 3.91 and a beta of 1.37.

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. The firm 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 company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, 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 completion of the transaction, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction 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 transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV bought a new stake in Trade Desk in the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new position in Trade Desk during the 1st quarter worth approximately $26,000. Sound Income Strategies LLC lifted its position in shares of Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after purchasing an additional 270 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Trade Desk in the 1st quarter valued at $27,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk during the first quarter worth $31,000. Institutional investors 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.

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