Zacks: Brokerages Expect The Trade Desk, Inc. (NASDAQ:TTD) Will Post Quarterly Sales of $261.58 Million

Brokerages predict that The Trade Desk, Inc. (NASDAQ:TTD) will announce sales of $261.58 million for the current quarter, Zacks reports. Six analysts have provided estimates for The Trade Desk’s earnings, with the lowest sales estimate coming in at $260.50 million and the highest estimate coming in at $262.20 million. The Trade Desk reported sales of $139.36 million during the same quarter last year, which indicates a positive year over year growth rate of 87.7%. The firm is expected to issue its next earnings results on Thursday, August 5th.

According to Zacks, analysts expect that The Trade Desk will report full year sales of $1.14 billion for the current financial year, with estimates ranging from $1.13 billion to $1.15 billion. For the next year, analysts forecast that the firm will post sales of $1.47 billion, with estimates ranging from $1.41 billion to $1.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for The Trade Desk.

The Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Monday, May 10th. The technology company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. The firm had revenue of $219.80 million for the quarter, compared to the consensus estimate of $217.28 million. The Trade Desk had a net margin of 26.91% and a return on equity of 25.57%. The firm’s revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share.

A number of research firms have recently weighed in on TTD. Evercore ISI raised shares of The Trade Desk to an “outperform” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Thursday, July 8th. Stifel Nicolaus dropped their price target on shares of The Trade Desk from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, May 17th. Truist Securities raised shares of The Trade Desk from a “hold” rating to a “buy” rating and dropped their price target for the stock from $88.00 to $62.00 in a research report on Tuesday, May 11th. KeyCorp dropped their price target on shares of The Trade Desk from $85.10 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, May 11th. Finally, Truist raised shares of The Trade Desk from a “hold” rating to a “buy” rating and dropped their price target for the stock from $88.00 to $62.00 in a research report on Tuesday, May 11th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $76.96.

In related news, CMO Susan Vobejda sold 14,539 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $577.50, for a total value of $8,396,272.50. Following the completion of the transaction, the chief marketing officer now owns 29,001 shares in the company, valued at approximately $16,748,077.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 20,000 shares of the stock in a transaction dated Thursday, June 24th. The shares were sold at an average price of $67.50, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer now owns 232,520 shares of the company’s stock, valued at approximately $15,695,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,000 shares of company stock worth $14,930,981. Corporate insiders own 10.72% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of The Trade Desk during the 1st quarter valued at about $32,000. Bedel Financial Consulting Inc. boosted its position in shares of The Trade Desk by 61.8% during the 1st quarter. Bedel Financial Consulting Inc. now owns 55 shares of the technology company’s stock valued at $36,000 after purchasing an additional 21 shares in the last quarter. WASHINGTON TRUST Co bought a new position in shares of The Trade Desk during the 1st quarter valued at about $36,000. Avion Wealth boosted its position in shares of The Trade Desk by 480.0% during the 1st quarter. Avion Wealth now owns 58 shares of the technology company’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of The Trade Desk by 90.3% during the 1st quarter. Clearstead Advisors LLC now owns 59 shares of the technology company’s stock valued at $38,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 6.11% of the company’s stock.

TTD traded down $1.03 during midday trading on Monday, reaching $73.12. 69,492 shares of the company’s stock were exchanged, compared to its average volume of 6,771,756. The firm has a market cap of $34.79 billion, a PE ratio of 153.36, a PEG ratio of 13.71 and a beta of 2.51. The company’s 50-day moving average price is $75.52. The Trade Desk has a 1-year low of $40.40 and a 1-year high of $97.28.

The Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns in various ad formats and channels, including display, video, audio, in-app, native and social, and on various devices, such as computers, mobile devices, and connected TV.

Featured Story: Fibonacci Channel

Get a free copy of the Zacks research report on The Trade Desk (TTD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The Trade Desk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Trade Desk and related companies with MarketBeat.com's FREE daily email newsletter.