Trade Desk (NASDAQ:TTD) Shares Up 4.8% - Here's Why

Key Points

• Trade Desk (NASDAQ:TTD) shares increased by 4.8%, reaching a last trading price of $54.61 despite a significant drop in trading volume.
• Several analysts have made price target revisions for Trade Desk, with Oppenheimer raising its target to $110.00 while Wells Fargo lowered it to $68.00, resulting in mixed ratings from analysts.
• The company recently reported a disappointing earnings per share of $0.18, missing expectations, although its quarterly revenue grew by 18.7% year-over-year.

The Trade Desk (NASDAQ:TTD - Get Free Report) shot up 4.8% during trading on Monday . The stock traded as high as $54.54 and last traded at $54.61. 4,979,575 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 11,268,305 shares. The stock had previously closed at $52.12.

Analyst Ratings Changes

Several research firms recently commented on TTD. Oppenheimer raised their price target on shares of Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. BMO Capital Markets set a $98.00 price target on shares of Trade Desk and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $74.00 to $68.00 in a research report on Thursday, June 26th. Scotiabank decreased their price target on shares of Trade Desk from $83.00 to $60.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Finally, Guggenheim decreased their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $88.58.

Trade Desk Price Performance

The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 66.23, a PEG ratio of 2.67 and a beta of 1.37. The stock's fifty day simple moving average is $74.22 and its two-hundred day simple moving average is $70.34.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). The business had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company posted $0.39 earnings per share. On average, sell-side analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 51,290 shares of Trade Desk stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $91.18, for a total value of $4,676,622.20. Following the sale, the insider directly owned 218,246 shares in the company, valued at $19,899,670.28. This trade represents a 19.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Large investors have recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in Trade Desk in the 4th quarter valued at about $25,000. Sound Income Strategies LLC grew its position in Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock valued at $26,000 after buying an additional 270 shares in the last quarter. Transce3nd LLC bought a new position in Trade Desk in the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC bought a new position in Trade Desk in the 2nd quarter valued at about $28,000. Finally, Park Square Financial Group LLC bought a new position in Trade Desk in the 4th quarter valued at about $47,000. 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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