Trade Desk (TTD) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a research report sent to investors on Thursday, August 23rd.

According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “

Several other equities research analysts also recently commented on the company. BidaskClub upgraded Trade Desk from a buy rating to a strong-buy rating in a report on Tuesday, August 14th. SunTrust Banks lifted their target price on Trade Desk to $120.00 and gave the company a buy rating in a research report on Friday, August 10th. Pivotal Research initiated coverage on Trade Desk in a research report on Monday, July 9th. They set a sell rating and a $58.00 target price on the stock. Macquarie raised Trade Desk to a buy rating and boosted their price objective for the stock from $95.00 to $130.00 in a research report on Friday, August 10th. Finally, Raymond James reissued a buy rating and issued a $122.00 price objective on shares of Trade Desk in a research report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $102.89.

TTD stock traded up $0.47 during mid-day trading on Thursday, reaching $146.09. The company’s stock had a trading volume of 563,434 shares, compared to its average volume of 823,476. The company has a market cap of $6.26 billion, a P/E ratio of 122.76, a PEG ratio of 4.07 and a beta of 3.05. Trade Desk has a 12 month low of $40.70 and a 12 month high of $151.76.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The firm had revenue of $112.30 million during the quarter, compared to the consensus estimate of $103.87 million. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The company’s quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. research analysts predict that Trade Desk will post 1.43 EPS for the current year.

In other news, insider David Randall Pickles sold 75,000 shares of the stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $90.20, for a total transaction of $6,765,000.00. Following the transaction, the insider now directly owns 121,237 shares in the company, valued at approximately $10,935,577.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert David Perdue sold 20,000 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $86.55, for a total value of $1,731,000.00. Following the sale, the chief operating officer now owns 152,093 shares of the company’s stock, valued at $13,163,649.15. The disclosure for this sale can be found here. Insiders sold a total of 445,018 shares of company stock worth $44,216,931 over the last 90 days. Corporate insiders own 26.87% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new stake in Trade Desk in the 2nd quarter worth approximately $147,000. Mount Yale Investment Advisors LLC lifted its holdings in Trade Desk by 235.7% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,655 shares of the technology company’s stock worth $155,000 after buying an additional 1,162 shares during the period. Strs Ohio purchased a new stake in Trade Desk in the 2nd quarter worth approximately $187,000. CAPROCK Group Inc. purchased a new stake in Trade Desk in the 2nd quarter worth approximately $201,000. Finally, Sawtooth Solutions LLC purchased a new stake in Trade Desk in the 2nd quarter worth approximately $219,000. Institutional investors own 71.72% of the company’s stock.

About Trade Desk

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.

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