Trade Desk (NASDAQ:TTD) Rating Reiterated by Wedbush

Wedbush reissued their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a report released on Thursday, RTT News reports. The brokerage currently has a $115.00 price target on the technology company’s stock, up from their previous price target of $110.00.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Trade Desk from a buy rating to a hold rating in a research report on Saturday, September 7th. Morgan Stanley boosted their price target on shares of Trade Desk from $100.00 to $110.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Wolfe Research started coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They set an outperform rating and a $115.00 target price for the company. Bank of America began coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a buy rating and a $135.00 price target on the stock. Finally, Macquarie reissued an outperform rating and issued a $115.00 price objective on shares of Trade Desk in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of Moderate Buy and a consensus price target of $109.05.

Trade Desk Price Performance

TTD opened at $104.50 on Thursday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $105.39. The company’s 50 day moving average price is $97.82 and its two-hundred day moving average price is $91.95. The firm has a market capitalization of $51.37 billion, a price-to-earnings ratio of 261.26, a PEG ratio of 4.89 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, equities research analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In other news, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Gokul Rajaram sold 2,415 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now owns 34,056 shares in the company, valued at approximately $3,334,763.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 135,922 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the transaction, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 599,163 shares of company stock valued at $61,246,529. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently modified their holdings of TTD. Global Assets Advisory LLC purchased a new position in Trade Desk in the first quarter worth $2,626,000. Franklin Resources Inc. raised its stake in shares of Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after buying an additional 70,201 shares during the last quarter. Nicholas Company Inc. grew its position in Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after buying an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in Trade Desk during the first quarter worth about $3,011,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.