Trade Desk (NASDAQ:TTD) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $145.00 price target on the technology company’s stock.

A number of other brokerages have also commented on TTD. Wolfe Research boosted their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and increased their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Scotiabank dropped their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Wedbush upped their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, KeyCorp raised their price target on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $53.88 on Thursday. The company has a market cap of $26.73 billion, a P/E ratio of 69.08, a PEG ratio of 3.11 and a beta of 1.63. Trade Desk has a one year low of $53.74 and a one year high of $141.53. The business’s 50-day simple moving average is $100.42 and its 200 day simple moving average is $112.21.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. raised its stake in shares of Trade Desk by 84.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock worth $762,000 after buying an additional 2,965 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new position in Trade Desk during the fourth quarter worth about $591,000. Lighthouse Financial LLC bought a new stake in Trade Desk in the fourth quarter worth about $3,536,000. Wood Tarver Financial Group LLC acquired a new stake in Trade Desk in the 4th quarter valued at about $117,000. Finally, Park Square Financial Group LLC bought a new position in shares of Trade Desk during the 4th quarter valued at about $47,000. 67.77% of the stock is currently owned by institutional investors.

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.