Trade Desk (NASDAQ:TTD) Trading Up 3.6% Following Analyst Upgrade

Key Points

• Trade Desk's share price rose 3.6% following an upgrade from BTIG Research, which increased the stock's price target from $79.00 to $97.00, maintaining a buy rating.
• The company's recent earnings report showed a net margin of 16.04% with revenue of $616.02 million, surpassing analyst expectations and reflecting a 25.4% year-over-year increase.
• Analyst consensus indicates a "Moderate Buy" rating for Trade Desk, with a target price averaging around $98.73, while notable fluctuations in price targets have come from various research firms.

The Trade Desk (NASDAQ:TTD - Get Free Report)'s share price rose 3.6% during trading on Monday after BTIG Research raised their price target on the stock from $79.00 to $97.00. BTIG Research currently has a buy rating on the stock. Trade Desk traded as high as $89.81 and last traded at $89.15. Approximately 2,337,450 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 10,063,410 shares. The stock had previously closed at $86.08.

Several other equities analysts also recently issued reports on TTD. Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Rosenblatt Securities lifted their price objective on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 6th. JMP Securities restated a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a research note on Tuesday, June 24th. HSBC set a $75.00 price objective on shares of Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Guggenheim cut their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.73.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently bought and sold shares of the stock. Cornerstone Wealth Group LLC increased its stake in Trade Desk by 2.8% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company's stock worth $321,000 after purchasing an additional 122 shares in the last quarter. Mutual Advisors LLC increased its holdings in shares of Trade Desk by 3.5% in the 2nd quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company's stock valued at $305,000 after purchasing an additional 142 shares during the period. Ashton Thomas Securities LLC increased its holdings in shares of Trade Desk by 2.6% in the 1st quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company's stock valued at $315,000 after purchasing an additional 144 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Trade Desk by 17.2% in the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock valued at $120,000 after purchasing an additional 150 shares during the period. Finally, Tradition Wealth Management LLC increased its holdings in shares of Trade Desk by 2.4% in the 1st quarter. Tradition Wealth Management LLC now owns 6,349 shares of the technology company's stock valued at $347,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Trading Up 3.6%

The company has a market cap of $43.81 billion, a price-to-earnings ratio of 108.63, a P/E/G ratio of 3.91 and a beta of 1.37. The business has a fifty day moving average price of $75.63 and a two-hundred day moving average price of $74.12.

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

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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