Trade Desk’s (TTD) “Buy” Rating Reaffirmed at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $100.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 16.25% from the company’s current price.

A number of other research firms have also recently commented on TTD. KeyCorp boosted their target price on shares of Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. BTIG Research raised their target price on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Susquehanna increased their price objective on Trade Desk from $75.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Stifel Nicolaus lifted their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company increased their target price on shares of Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.38.

Trade Desk Trading Down 4.0 %

Shares of TTD stock opened at $86.02 on Thursday. Trade Desk has a 12-month low of $60.23 and a 12-month high of $94.00. The business’s 50 day moving average is $83.98 and its two-hundred day moving average is $76.09. The company has a market capitalization of $42.06 billion, a P/E ratio of 238.94, a P/E/G ratio of 4.88 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The business had revenue of $605.80 million for the quarter, compared to analysts’ expectations of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. On average, research analysts predict that Trade Desk will post 0.79 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $89.53, for a total transaction of $191,236.08. Following the sale, the insider now directly owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Samantha Jacobson sold 15,006 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the completion of the transaction, the insider now directly owns 52,387 shares of the company’s stock, valued at $4,377,981.59. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the sale, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 642,170 shares of company stock valued at $53,970,398. 10.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. NBC Securities Inc. purchased a new position in shares of Trade Desk in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in Trade Desk during the 3rd quarter worth approximately $26,000. Pinnacle Bancorp Inc. increased its holdings in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares during the period. Riverview Trust Co purchased a new stake in shares of Trade Desk during the first quarter worth approximately $27,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Trade Desk during the third quarter worth $29,000. Institutional investors and hedge funds 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.