Trade Desk (NASDAQ:TTD) Trading Up 3% - Should You Buy?

Key Points

• Trade Desk's stock rose 3% recently, trading at $55.86 after reaching a high of $56.64, with trading volume increasing by 39% from the average.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Trade Desk, with target prices ranging from $90.00 to $100.00.
• In its latest quarterly earnings report, Trade Desk reported $0.18 EPS, missing expectations, while revenue increased by 18.7% year-over-year to $694.04 million.

The Trade Desk (NASDAQ:TTD - Get Free Report) rose 3% on Monday . The company traded as high as $56.64 and last traded at $55.86. Approximately 14,991,581 shares traded hands during trading, an increase of 39% from the average daily volume of 10,812,552 shares. The stock had previously closed at $54.23.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent research reports. JMP Securities reissued a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a research note on Tuesday, June 24th. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a report on Friday, June 27th. Royal Bank Of Canada decreased their target price on Trade Desk from $100.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday. KeyCorp upped their price objective on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Macquarie increased their target price on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Trade Desk Stock Down 1.9%

The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of 64.07, a P/E/G ratio of 2.46 and a beta of 1.37. The stock's 50 day moving average price is $76.31 and its two-hundred day moving average price is $72.70.

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

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.00% of the company's stock.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently modified their holdings of TTD. Vanguard Group Inc. boosted its stake in Trade Desk by 0.7% in the second quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company's stock valued at $3,207,504,000 after acquiring an additional 317,107 shares during the last quarter. Jennison Associates LLC lifted its position in Trade Desk by 17.9% in the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company's stock valued at $1,027,114,000 after acquiring an additional 2,169,252 shares in the last quarter. Geode Capital Management LLC increased its stake in Trade Desk by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company's stock valued at $884,860,000 after buying an additional 4,218,975 shares during the last quarter. Brown Advisory Inc. increased its stake in Trade Desk by 198.4% in 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 during the last quarter. Finally, Bank of America Corp DE increased its stake in Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after buying an additional 418,911 shares during the last quarter. 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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