Trade Desk (NASDAQ:TTD) Stock Price Up 3.2% - Still a Buy?

Key Points

• The Trade Desk's stock rose by 3.2% to $52.39, despite a significant drop in trading volume, indicating investor interest amid fluctuating market conditions.
• Analysts have mixed opinions on the stock, with recent price targets ranging from $64.00 to $92.00, and a consensus rating of Moderate Buy.
• In its latest quarterly earnings report, Trade Desk missed EPS estimates at $0.18 while reporting revenue growth of 18.7% year-over-year.

The Trade Desk (NASDAQ:TTD - Get Free Report)'s share price shot up 3.2% during mid-day trading on Friday . The stock traded as high as $53.06 and last traded at $52.39. 7,683,627 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 11,245,365 shares. The stock had previously closed at $50.76.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price target on Trade Desk from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. DA Davidson reduced their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus cut their target price on Trade Desk from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company downgraded Trade Desk from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. Finally, Macquarie lifted their target price on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.58.

Trade Desk Trading Up 2.9%

The business's fifty day simple moving average is $74.61 and its 200 day simple moving average is $71.51. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 62.96, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). The firm had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The company's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 51,290 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.00% of the company's stock.

Institutional Trading of Trade Desk

A number of large investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the 4th quarter valued at $25,000. Banque Cantonale Vaudoise purchased a new stake in Trade Desk in the 1st quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings 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 valued at $26,000 after acquiring an additional 270 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk in the first quarter valued at about $27,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Trade Desk during the second quarter worth about $28,000. 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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