Trade Desk (NASDAQ:TTD) Price Target Raised to $142.00

Trade Desk (NASDAQ:TTD) had its price target lifted by BTIG Research from $114.00 to $142.00 in a research note published on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a research report on Monday, October 7th. Benchmark raised their price target on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 9th. Robert W. Baird raised their price target on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Moffett Nathanson assumed coverage on shares of Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target for the company. Finally, New Street Research cut Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price objective on the stock. in a research note on Tuesday. Two 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 stock. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Up 0.3 %

Shares of NASDAQ:TTD opened at $121.98 on Wednesday. Trade Desk has a 52-week low of $60.23 and a 52-week high of $123.85. The company has a 50 day moving average of $109.80 and a two-hundred day moving average of $98.89. The company has a market capitalization of $59.66 billion, a price-to-earnings ratio of 304.95, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the company earned $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that Trade Desk will post 0.86 earnings per share for the current year.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk 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 $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 through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction 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 $39,682,694.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, 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 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. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after acquiring an additional 97 shares during the period. Apella Capital LLC increased its stake in Trade Desk by 1.9% in the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after purchasing an additional 100 shares in the last quarter. HM Payson & Co. increased its stake in Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 102 shares in the last quarter. Wealth Alliance increased its stake in Trade Desk by 0.6% in the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock worth $1,810,000 after purchasing an additional 106 shares in the last quarter. Finally, Parisi Gray Wealth Management increased its stake in Trade Desk by 2.6% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock worth $486,000 after purchasing an additional 111 shares in the last quarter. 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.