Trade Desk's (TTD) "Buy" Rating Reaffirmed at Needham & Company LLC

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $84.00 price target on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 6.14% from the stock's current price.

TTD has been the subject of a number of other research reports. Wedbush restated an "outperform" rating and set a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Oppenheimer lifted their price target on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Piper Sandler upped their price objective on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Royal Bank of Canada decreased their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.88.

Trade Desk Stock Up 1.3%

NASDAQ:TTD opened at $79.14 on Thursday. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a market capitalization of $39.26 billion, a price-to-earnings ratio of 101.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The stock's 50 day moving average price is $55.42 and its two-hundred day moving average price is $94.49.

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, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business's revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently bought and sold shares of TTD. Capital Investment Advisors LLC bought a new position in shares of Trade Desk during the fourth quarter worth about $214,000. Wedmont Private Capital raised its holdings in Trade Desk by 3.9% during the 4th quarter. Wedmont Private Capital now owns 3,781 shares of the technology company's stock worth $449,000 after purchasing an additional 143 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Kathmere Capital Management LLC boosted its stake in shares of Trade Desk by 13.5% in the 4th quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company's stock valued at $273,000 after purchasing an additional 277 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Trade Desk by 15.8% during the fourth quarter. Park Avenue Securities LLC now owns 39,519 shares of the technology company's stock worth $4,645,000 after buying an additional 5,405 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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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