DA Davidson Raises Trade Desk (NASDAQ:TTD) Price Target to $134.00

Trade Desk (NASDAQ:TTD) had its price objective boosted by DA Davidson from $108.00 to $134.00 in a research report report published on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock. DA Davidson also issued estimates for Trade Desk’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $0.82 EPS and FY2025 earnings at $1.08 EPS.

Several other research firms also recently weighed in on TTD. BTIG Research lifted their price target on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their target price on Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company initiated coverage on Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 price target on the stock. Susquehanna upped their price objective on shares of Trade Desk from $135.00 to $150.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Truist Financial increased their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $122.65.

Trade Desk Price Performance

TTD stock opened at $125.88 on Monday. The company has a market capitalization of $61.88 billion, a PE ratio of 206.36, a P/E/G ratio of 6.25 and a beta of 1.47. Trade Desk has a 12 month low of $61.47 and a 12 month high of $132.65. The firm’s 50-day moving average is $114.89 and its 200 day moving average is $102.26.

Insiders Place Their Bets

In related news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $80,102,994.79. This represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,548,289 shares of company stock valued at $169,165,185. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TTD. Paloma Partners Management Co grew its position in Trade Desk by 202.2% during the 3rd quarter. Paloma Partners Management Co now owns 4,918 shares of the technology company’s stock worth $539,000 after purchasing an additional 9,728 shares during the period. Erste Asset Management GmbH acquired a new stake in Trade Desk during the third quarter worth about $19,189,000. Tradition Wealth Management LLC purchased a new position in Trade Desk during the third quarter valued at approximately $217,000. Encompass More Asset Management lifted its holdings in Trade Desk by 9.3% in the third quarter. Encompass More Asset Management now owns 2,644 shares of the technology company’s stock valued at $290,000 after acquiring an additional 224 shares during the period. Finally, Edgestream Partners L.P. boosted its position in Trade Desk by 58.5% in the 3rd quarter. Edgestream Partners L.P. now owns 13,686 shares of the technology company’s stock worth $1,501,000 after purchasing an additional 5,050 shares in the last quarter. 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.