Morgan Stanley Boosts Trade Desk (NASDAQ:TTD) Price Target to $110.00

Trade Desk (NASDAQ:TTD) had its price target increased by research analysts at Morgan Stanley from $100.00 to $110.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 8.78% from the company’s current price.

TTD has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Oppenheimer raised their price target on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Truist Financial reiterated a “buy” rating and set a $105.00 price objective on shares of Trade Desk in a report on Thursday, May 16th. Loop Capital increased their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, Wolfe Research started coverage on Trade Desk in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $0.68 during trading on Tuesday, reaching $101.12. The stock had a trading volume of 1,233,781 shares, compared to its average volume of 4,102,449. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67. The firm’s fifty day moving average is $96.44 and its 200 day moving average is $85.33. The stock has a market cap of $49.46 billion, a price-to-earnings ratio of 253.35, a P/E/G ratio of 4.92 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. On average, research analysts forecast that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. Insiders sold 362,554 shares of company stock valued at $33,414,310 over the last ninety days. 10.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares in the last quarter. Jennison Associates LLC increased its stake in Trade Desk by 91.7% in the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares during the last quarter. Norges Bank purchased a new stake in shares of Trade Desk in the 4th quarter valued at about $255,316,000. 1832 Asset Management L.P. bought a new stake in shares of Trade Desk during the 1st quarter valued at about $225,710,000. Finally, Jericho Capital Asset Management L.P. increased its position in shares of Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.