Trade Desk (NASDAQ:TTD) Stock Rating Reaffirmed by Wedbush

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $110.00 price objective on the technology company’s stock. Wedbush’s target price indicates a potential upside of 10.78% from the stock’s current price.

Several other brokerages have also recently issued reports on TTD. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $105.00 in a report on Thursday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 target price (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Macquarie raised their price target on shares of Trade Desk from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, DA Davidson raised their price target on shares of Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.51.

Trade Desk Stock Performance

Trade Desk stock traded up $11.03 during midday trading on Friday, hitting $99.30. 13,299,325 shares of the company’s stock were exchanged, compared to its average volume of 4,207,968. Trade Desk has a 12 month low of $60.23 and a 12 month high of $102.67. The firm has a 50-day moving average of $95.34 and a two-hundred day moving average of $87.40. The company has a market cap of $48.57 billion, a PE ratio of 248.26, a P/E/G ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The company had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. As a group, equities analysts expect that Trade Desk will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction that occurred on Tuesday, July 9th. The shares were 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 directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,909 shares of company stock valued at $20,827,601. 10.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. grew its stake in Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co acquired a new stake in Trade Desk in the 1st quarter valued at $27,000. Bogart Wealth LLC grew its stake in Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Transcendent Capital Group LLC acquired a new stake in Trade Desk in the 2nd quarter valued at $30,000. Finally, Jones Financial Companies Lllp grew its stake in Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.