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

Trade Desk (NASDAQ:TTD) had its target price hoisted by equities researchers at Truist Financial from $120.00 to $135.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 7.89% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Citigroup raised their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp lifted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. BTIG Research lifted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. 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 issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.69.

Trade Desk Stock Performance

NASDAQ TTD opened at $125.13 on Friday. The stock 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 has a twelve month low of $60.23 and a twelve month high of $132.65. The firm’s 50 day moving average price is $112.83 and its two-hundred day moving average price is $101.14.

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

Insider Activity at Trade Desk

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,557,897 shares of company stock valued at $170,121,565 over the last three months. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. Jennison Associates LLC grew its position in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. 1832 Asset Management L.P. boosted its position 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. boosted its position in Trade Desk by 4.3% during the 1st 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 during the period. Finally, Marshall Wace LLP boosted its position in Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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.