Oppenheimer Raises Trade Desk (NASDAQ:TTD) Price Target to $135.00

Trade Desk (NASDAQ:TTD) had its price objective lifted by Oppenheimer from $120.00 to $135.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 11.88% from the stock’s current price.

Other analysts have also issued research reports about the company. Moffett Nathanson initiated coverage on Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. Citigroup boosted their target price on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Benchmark reiterated a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday. Bank of America started coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. Finally, Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average price target of $119.49.

Trade Desk Stock Performance

Shares of Trade Desk stock traded down $11.87 during trading hours on Friday, reaching $120.66. 5,650,239 shares of the company were exchanged, compared to its average volume of 3,781,678. Trade Desk has a 1 year low of $60.23 and a 1 year high of $132.65. The stock’s fifty day moving average is $112.41 and its 200 day moving average is $100.68. The firm has a market cap of $59.31 billion, a PE ratio of 241.32, a PEG ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis. Research analysts expect that Trade Desk will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock worth $170,121,565 in the last quarter. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Trade Desk by 59.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 88,836 shares of the technology company’s stock valued at $7,766,000 after buying an additional 33,049 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Trade Desk by 299.3% in the 1st quarter. Quantbot Technologies LP now owns 27,792 shares of the technology company’s stock valued at $2,430,000 after buying an additional 20,831 shares during the period. Empowered Funds LLC boosted its holdings in shares of Trade Desk by 15.3% in the 1st quarter. Empowered Funds LLC now owns 12,400 shares of the technology company’s stock valued at $1,084,000 after buying an additional 1,643 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Trade Desk by 149.6% in the 1st quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company’s stock valued at $1,748,000 after buying an additional 11,981 shares during the period. Finally, Forsta AP Fonden boosted its holdings in shares of Trade Desk by 10.2% in the 1st quarter. Forsta AP Fonden now owns 91,900 shares of the technology company’s stock valued at $8,034,000 after buying an additional 8,500 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.