Trade Desk (NASDAQ:TTD) Given New $135.00 Price Target at Wedbush

Trade Desk (NASDAQ:TTD) had its price target hoisted by Wedbush from $115.00 to $135.00 in a report released on Friday morning, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. KeyCorp raised their price target on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie raised their price objective on Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Loop Capital upped their target price on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC raised their price target on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $120.69.

Trade Desk Stock Performance

TTD traded down $7.40 on Friday, reaching $125.13. 13,646,214 shares of the company’s stock were exchanged, compared to its average volume of 3,818,373. Trade Desk has a twelve month low of $60.23 and a twelve month high of $132.65. The company’s 50 day moving average is $112.83 and its 200-day moving average is $101.00. The company has a market cap of $61.51 billion, a price-to-earnings ratio of 205.13, a PEG ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. Sell-side analysts forecast that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the sale, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the sale, the director now owns 29,991 shares of the company’s stock, valued at $3,269,019. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last ninety days. 9.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. lifted its holdings in shares of Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 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.