Trade Desk (NASDAQ:TTD) PT Raised to $130.00 at Robert W. Baird

Trade Desk (NASDAQ:TTD) had its price target upped by investment analysts at Robert W. Baird from $110.00 to $130.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 32.22% from the company’s previous close.

Several other research firms have also recently weighed in on TTD. Morgan Stanley raised their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Wolfe Research initiated coverage on Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price objective for the company. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Trade Desk in a research note on Friday, August 9th. Needham & Company LLC raised their price objective on Trade Desk from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Loop Capital raised their price objective on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.26.

Trade Desk Stock Performance

Trade Desk stock opened at $98.32 on Monday. The stock has a market cap of $48.09 billion, a PE ratio of 245.81, a price-to-earnings-growth ratio of 5.09 and a beta of 1.48. Trade Desk has a one year low of $60.23 and a one year high of $102.67. The stock has a fifty day moving average of $95.50 and a 200 day moving average of $87.94.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, sell-side analysts predict that Trade Desk will post 0.85 EPS for the current fiscal year.

Insider Activity

In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the transaction, the director now directly owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Insiders sold a total of 213,909 shares of company stock valued at $20,827,601 in the last quarter. 10.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. grew its position in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co purchased a new position in Trade Desk in the first quarter worth approximately $27,000. Bogart Wealth LLC grew its position in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Transcendent Capital Group LLC acquired a new position in Trade Desk during the second quarter worth $30,000. Finally, Jones Financial Companies Lllp lifted its stake in Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares in the last quarter. 67.77% of the stock is currently 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.