Trade Desk (NASDAQ:TTD) Upgraded by Evercore ISI to "Outperform" Rating

Trade Desk (NASDAQ:TTD - Get Free Report) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a report issued on Friday,Benzinga reports. The brokerage presently has a $90.00 price target on the technology company's stock. Evercore ISI's price objective would indicate a potential upside of 32.31% from the company's previous close.

A number of other equities analysts also recently issued reports on TTD. Royal Bank Of Canada lowered their price objective on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities increased their price objective on shares of Trade Desk from $77.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Citizens Jmp lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Guggenheim cut their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.03.

Trade Desk Trading Down 2.6%

NASDAQ:TTD opened at $68.02 on Friday. The stock's 50-day moving average is $67.18 and its 200-day moving average is $82.84. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The stock has a market cap of $33.43 billion, a P/E ratio of 82.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41.

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 (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 firm had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period in the prior year, the company posted $0.26 EPS. The company's revenue was up 25.4% on a year-over-year basis. As a group, equities analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company'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 completion of the transaction, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk during the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth $26,000. Zions Bancorporation N.A. boosted its holdings in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at $47,000. Finally, BNP Paribas bought a new stake in shares of Trade Desk during the 4th quarter valued at $50,000. Institutional investors 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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