Trade Desk (NASDAQ:TTD) Shares Gap Up - Time to Buy?

The Trade Desk (NASDAQ:TTD - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $75.43, but opened at $85.26. Trade Desk shares last traded at $82.68, with a volume of 16,290,445 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citizens Jmp cut their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 target price for the company in a report on Friday, June 27th. Guggenheim dropped their target price on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Wedbush restated an "outperform" rating and set a $86.00 target price on shares of Trade Desk in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.48.

Trade Desk Stock Performance

The stock has a market cap of $40.56 billion, a P/E ratio of 100.69, a price-to-earnings-growth ratio of 3.69 and a beta of 1.36. The firm has a 50-day moving average price of $73.35 and a 200-day moving average price of $77.71.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its 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 return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company earned $0.26 EPS. The business's revenue was up 25.4% compared to the same quarter last year. On average, research analysts predict that The Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the 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 completion of the transaction, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the 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 completion of the transaction, the chief executive officer directly owned 17,018 shares of the company's stock, valued at $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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. increased its position in Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after buying an additional 5,387,339 shares in the last quarter. Norges Bank bought a new position in Trade Desk during the 4th quarter valued at approximately $524,187,000. Nuveen LLC bought a new position in Trade Desk during the 1st quarter valued at approximately $191,935,000. Vanguard Group Inc. increased its position in Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after buying an additional 1,567,491 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after buying an additional 1,354,891 shares in the last quarter. Institutional investors 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.