Trade Desk (NASDAQ:TTD) Price Target Raised to $120.00

Trade Desk (NASDAQ:TTD) had its price objective lifted by Loop Capital from $109.00 to $120.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on TTD. Oppenheimer boosted their price target on shares of Trade Desk from $105.00 to $120.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Truist Financial lifted their price objective on shares of Trade Desk from $105.00 to $108.00 and gave the stock a buy rating in a research note on Friday, August 9th. Benchmark lifted their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the stock a sell rating in a research note on Friday, August 9th. Robert W. Baird lifted their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the stock an outperform rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group raised shares of Trade Desk from a hold rating to a buy rating and lifted their price objective for the stock from $95.00 to $105.00 in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk has an average rating of Moderate Buy and a consensus price target of $107.72.

Trade Desk Price Performance

Shares of TTD opened at $102.18 on Monday. The firm has a market cap of $50.23 billion, a P/E ratio of 255.46, a price-to-earnings-growth ratio of 5.23 and a beta of 1.48. Trade Desk has a 1 year low of $60.23 and a 1 year high of $105.39. The company has a 50 day simple moving average of $96.89 and a two-hundred day simple moving average of $90.36.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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 net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Trade Desk will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the SEC, which is available through this link. In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the sale, the chief executive officer now owns 664,261 shares in the company, valued at approximately $68,897,150.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 642,868 shares of company stock worth $65,415,112. 10.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares in the last quarter. Norges Bank purchased a new position in shares of Trade Desk during the 4th quarter valued at approximately $255,316,000. 1832 Asset Management L.P. lifted its position in shares of Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after buying an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after buying an additional 100,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Trade Desk by 10.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after buying an additional 209,222 shares in 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.