Trade Desk’s (TTD) “Outperform” Rating Reiterated at BMO Capital Markets

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reaffirmed by investment analysts at BMO Capital Markets in a report issued on Thursday, Benzinga reports. They currently have a $108.00 target price on the technology company’s stock, up from their prior target price of $107.00. BMO Capital Markets’ price target indicates a potential upside of 22.25% from the company’s current price.

Several other research firms also recently commented on TTD. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Trade Desk in a research note on Thursday. Benchmark boosted their price target on shares of Trade Desk from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Truist Financial raised their price objective on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Jefferies Financial Group raised Trade Desk from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Finally, KeyCorp raised their price target on Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.84.

Trade Desk Trading Up 2.7 %

Shares of NASDAQ:TTD traded up $2.32 during trading on Thursday, reaching $88.34. The company had a trading volume of 4,088,467 shares, compared to its average volume of 4,444,603. Trade Desk has a 12 month low of $60.23 and a 12 month high of $94.00. The stock has a market capitalization of $43.19 billion, a P/E ratio of 245.31, a price-to-earnings-growth ratio of 4.88 and a beta of 1.50. The company has a fifty day moving average of $83.98 and a two-hundred day moving average of $76.09.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. The firm had revenue of $605.80 million for the quarter, compared to analysts’ expectations of $582.61 million. As a group, equities research analysts predict that Trade Desk will post 0.79 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 2,136 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the completion of the transaction, the insider now directly owns 139,794 shares in the company, valued at approximately $12,515,756.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the completion of the transaction, the chief executive officer now directly owns 824,022 shares in the company, valued at approximately $69,605,138.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the sale, the insider now owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The disclosure for this sale can be found here. Insiders sold a total of 642,170 shares of company stock valued at $53,970,398 in the last three months. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the stock. Baron Wealth Management LLC bought a new stake in shares of Trade Desk in the third quarter valued at about $270,000. Stratos Wealth Partners LTD. raised its holdings in shares of Trade Desk by 32.2% in the third quarter. Stratos Wealth Partners LTD. now owns 5,815 shares of the technology company’s stock valued at $454,000 after acquiring an additional 1,416 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Trade Desk in the third quarter valued at about $277,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trade Desk by 2.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,499 shares of the technology company’s stock valued at $6,213,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Trade Desk by 3.3% in the third quarter. Mackenzie Financial Corp now owns 28,471 shares of the technology company’s stock valued at $2,175,000 after acquiring an additional 908 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.