The Trade Desk Inc. (TTD) Downgraded by Zacks Investment Research
The Trade Desk Inc. (NASDAQ:TTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
A number of other analysts also recently issued reports on the company. Cantor Fitzgerald set a $60.00 price target on The Trade Desk and gave the stock a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $57.00 target price (up previously from $41.00) on shares of The Trade Desk in a research report on Sunday, May 14th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $60.00 target price (up previously from $41.00) on shares of The Trade Desk in a research report on Friday, May 12th. Vetr upgraded The Trade Desk from a “sell” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, March 30th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $55.00 target price (up previously from $39.00) on shares of The Trade Desk in a research report on Monday, May 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The Trade Desk currently has a consensus rating of “Buy” and an average target price of $52.67.
Shares of The Trade Desk (TTD) traded up 3.97% on Thursday, reaching $55.51. The company had a trading volume of 858,551 shares. The company has a 50 day moving average of $51.69 and a 200-day moving average of $42.63. The Trade Desk has a 52 week low of $22.00 and a 52 week high of $57.87. The company has a market capitalization of $2.22 billion and a P/E ratio of 55.68.
The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.17. The business had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $43.30 million. The firm’s revenue for the quarter was up 75.7% on a year-over-year basis. Analysts predict that The Trade Desk will post $1.08 earnings per share for the current fiscal year.
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In other news, insider David Randall Pickles sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $52.74, for a total transaction of $3,955,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paul Ross sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $52.61, for a total value of $526,100.00. Following the sale, the chief financial officer now directly owns 53,788 shares in the company, valued at approximately $2,829,786.68. The disclosure for this sale can be found here. Insiders sold a total of 4,939,884 shares of company stock worth $251,049,487 in the last 90 days. 26.87% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in shares of The Trade Desk during the first quarter valued at $103,000. Nationwide Fund Advisors increased its position in shares of The Trade Desk by 181.5% in the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after buying an additional 1,824 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of The Trade Desk by 665.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the technology company’s stock valued at $117,000 after buying an additional 2,029 shares during the period. Strs Ohio increased its position in shares of The Trade Desk by 100.0% in the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock valued at $126,000 after buying an additional 1,700 shares during the period. Finally, American International Group Inc. acquired a new position in shares of The Trade Desk during the first quarter valued at $126,000. 53.33% of the stock is currently owned by hedge funds and other institutional investors.
The Trade Desk Company Profile
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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