The Trade Desk Inc. (TTD) Rating Increased to Hold at Zacks Investment Research
The Trade Desk Inc. (NASDAQ:TTD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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. “
Several other equities analysts have also issued reports on TTD. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 target price (up from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 target price (up from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. BidaskClub lowered The Trade Desk from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 target price (up from $57.00) on shares of The Trade Desk in a report on Friday, August 11th. Finally, Citigroup Inc. reissued a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Trade Desk in a report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $67.07.
The Trade Desk (NASDAQ:TTD) opened at $50.01 on Friday. The stock has a market capitalization of $2,039.41, a P/E ratio of 48.09 and a beta of 7.32. The company has a quick ratio of 1.65, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The Trade Desk has a twelve month low of $25.48 and a twelve month high of $67.30.
The Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.15. The company had revenue of $79.40 million during the quarter, compared to analyst estimates of $76.84 million. The Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The Trade Desk’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. analysts anticipate that The Trade Desk will post 1.29 EPS for the current year.
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In other The Trade Desk news, insider Jeffrey Terry Green sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $52.98, for a total transaction of $476,820.00. Following the sale, the insider now owns 117,400 shares in the company, valued at $6,219,852. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert David Perdue sold 12,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $53.66, for a total value of $670,750.00. Following the transaction, the chief operating officer now directly owns 82,664 shares in the company, valued at $4,435,750.24. The disclosure for this sale can be found here. Insiders have sold 240,894 shares of company stock worth $13,710,797 in the last 90 days. Company insiders own 26.87% of the company’s stock.
Several large investors have recently made changes to their positions in TTD. Advisor Group Inc. grew its stake in shares of The Trade Desk by 9,856.5% during the second quarter. Advisor Group Inc. now owns 2,290 shares of the technology company’s stock valued at $115,000 after buying an additional 2,267 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake 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 worth $117,000 after purchasing an additional 2,029 shares during the last quarter. American International Group Inc. bought a new stake in shares of The Trade Desk in the first quarter worth about $126,000. Great West Life Assurance Co. Can grew its stake in shares of The Trade Desk by 57.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,838 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of The Trade Desk by 75.4% in the second quarter. Legal & General Group Plc now owns 3,872 shares of the technology company’s stock worth $195,000 after purchasing an additional 1,664 shares during the last quarter. 62.66% 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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