Morgan Stanley Raises Trade Desk (NASDAQ:TTD) Price Target to $110.00

Trade Desk (NASDAQ:TTD) had its price target hoisted by Morgan Stanley from $100.00 to $110.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

TTD has been the subject of several other reports. Wolfe Research started coverage on shares of Trade Desk in a report on Tuesday, July 16th. They issued an outperform rating and a $115.00 price objective for the company. Piper Sandler reiterated an overweight rating and set a $110.00 price target on shares of Trade Desk in a research report on Tuesday, June 11th. Truist Financial restated a buy rating and issued a $105.00 price objective on shares of Trade Desk in a report on Thursday, May 16th. Citigroup raised their target price on Trade Desk from $110.00 to $112.00 and gave the company a buy rating in a research note on Thursday, May 9th. Finally, Loop Capital boosted their price target on shares of Trade Desk from $102.00 to $109.00 and gave the stock a buy rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of Moderate Buy and an average price target of $100.38.

Trade Desk Price Performance

TTD opened at $90.88 on Tuesday. The stock’s 50 day moving average price is $96.72 and its 200 day moving average price is $85.59. The stock has a market cap of $44.45 billion, a P/E ratio of 227.21, a P/E/G ratio of 5.17 and a beta of 1.48. Trade Desk has a 12 month low of $60.23 and a 12 month high of $102.67.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. Equities analysts anticipate that Trade Desk will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Insiders sold a total of 288,909 shares of company stock worth $27,162,851 in the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of TTD. Pinnacle Bancorp Inc. boosted its stake in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in Trade Desk during the first quarter valued at approximately $27,000. Bogart Wealth LLC grew its holdings in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Trade Desk in the second quarter valued at approximately $30,000. Finally, Level Financial Advisors Inc. lifted its stake in shares of Trade Desk by 50.0% in the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after buying an additional 150 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.