Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Citigroup Analyst Says

Trade Desk (NASDAQ:TTD - Free Report) had its price target hoisted by Citigroup from $82.00 to $90.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a buy rating on the technology company's stock.

Other equities research analysts also recently issued reports about the stock. Citizens Jmp dropped their price objective 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. Oppenheimer increased their price objective on shares of Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research report on Friday, June 27th. KeyCorp increased their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Truist Financial increased their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.27.

Trade Desk Stock Down 0.3%

Trade Desk stock traded down $0.24 during mid-day trading on Tuesday, reaching $73.25. 1,840,693 shares of the company's stock were exchanged, compared to its average volume of 6,332,018. The company has a market cap of $36.00 billion, a P/E ratio of 89.32, a P/E/G ratio of 3.30 and a beta of 1.36. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a fifty day moving average of $68.55 and a 200-day moving average of $81.21.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company 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 quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. Equities research analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's 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 owned 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the firm's 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 completion of the sale, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Several hedge funds have recently made changes to their positions in the company. Centurion Wealth Management LLC lifted its stake in shares of Trade Desk by 2.6% in the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after acquiring an additional 96 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of Trade Desk by 1.7% in 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 during the period. Douglass Winthrop Advisors LLC lifted its stake in shares of Trade Desk by 2.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock valued at $525,000 after purchasing an additional 117 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Trade Desk by 8.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company's stock valued at $226,000 after purchasing an additional 133 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Trade Desk by 4.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,714 shares of the technology company's stock valued at $437,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds 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.