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

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective increased by equities research analysts at KeyCorp from $80.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. KeyCorp's target price would suggest a potential upside of 16.65% from the company's current price.

TTD has been the topic of several other reports. Citizens Jmp dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and set a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Wedbush restated an "outperform" rating and set a $86.00 target price on shares of Trade Desk in a report on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and set a $84.00 target price on shares of Trade Desk in a report on Friday, June 6th. Eight equities 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 MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $98.48.

Trade Desk Stock Performance

Trade Desk stock traded up $0.31 during trading hours on Thursday, reaching $81.44. 111,449,609 shares of the company's stock traded hands, compared to its average volume of 7,092,068. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm has a market capitalization of $40.02 billion, a price-to-earnings ratio of 99.32, a PEG ratio of 3.72 and a beta of 1.36. The firm's 50 day moving average is $73.78 and its 200-day moving average is $77.44.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. Trade Desk's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. Analysts predict that Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director directly owned 66,985 shares in the company, valued at $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. 9.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of Trade Desk during the fourth quarter valued at $25,000. Banque Cantonale Vaudoise bought a new position in shares of Trade Desk during the first quarter valued at $26,000. Sound Income Strategies LLC lifted its holdings in shares of Trade Desk by 317.6% during the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock valued at $26,000 after purchasing an additional 270 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Trade Desk during the first quarter valued at $27,000. Finally, von Borstel & Associates Inc. bought a new position in shares of Trade Desk during the first quarter valued at $31,000. 67.77% of the stock is currently owned by institutional investors.

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.