Trade Desk (TTD) Lifted to “Buy” at Zacks Investment Research
Trade Desk (NASDAQ:TTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $198.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 1.21% from the stock’s current price.
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. “
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Trade Desk from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC started coverage on Trade Desk in a research note on Monday, April 22nd. They issued a “hold” rating and a $211.03 target price on the stock. Citigroup increased their target price on Trade Desk from $159.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 22nd. Jefferies Financial Group increased their target price on Trade Desk from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $144.00 target price on shares of Trade Desk in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $177.83.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.42. The company had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $117.13 million. Trade Desk had a return on equity of 24.41% and a net margin of 17.41%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities research analysts expect that Trade Desk will post 1.66 earnings per share for the current fiscal year.
In other Trade Desk news, insider Vivian Yang sold 7,689 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $204.22, for a total value of $1,570,247.58. Following the transaction, the insider now owns 44,807 shares of the company’s stock, valued at $9,150,485.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO David Randall Pickles sold 13,900 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $162.43, for a total value of $2,257,777.00. Following the completion of the transaction, the chief technology officer now directly owns 65,077 shares in the company, valued at approximately $10,570,457.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 650,732 shares of company stock worth $128,039,830. Corporate insiders own 17.44% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware bought a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Financial Gravity Wealth Inc. bought a new position in shares of Trade Desk in the first quarter worth about $62,000. Financial Architects Inc raised its stake in shares of Trade Desk by 114.1% in the fourth quarter. Financial Architects Inc now owns 304 shares of the technology company’s stock worth $35,000 after buying an additional 162 shares during the period. Neuburgh Advisers LLC raised its stake in shares of Trade Desk by 77.8% in the fourth quarter. Neuburgh Advisers LLC now owns 352 shares of the technology company’s stock worth $41,000 after buying an additional 154 shares during the period. Finally, Private Capital Group LLC raised its stake in shares of Trade Desk by 139.3% in the fourth quarter. Private Capital Group LLC now owns 493 shares of the technology company’s stock worth $57,000 after buying an additional 287 shares during the period. 69.80% of the stock is currently owned by institutional investors.
Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
Further Reading: Overbought
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