BTIG Research Increases Trade Desk (NASDAQ:TTD) Price Target to $142.00

Trade Desk (NASDAQ:TTD) had its target price increased by equities research analysts at BTIG Research from $114.00 to $142.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s target price would suggest a potential upside of 18.13% from the stock’s previous close.

Several other equities analysts have also issued reports on TTD. StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Susquehanna upped their target price on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, August 9th. Finally, Citigroup upped their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $115.60.

Trade Desk Stock Performance

Shares of TTD opened at $120.21 on Wednesday. Trade Desk has a 52-week low of $60.23 and a 52-week high of $123.85. The business’s 50 day moving average price is $110.15 and its two-hundred day moving average price is $99.05. The firm has a market cap of $58.80 billion, a PE ratio of 299.30, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was up 25.9% compared to the same quarter last year. Research analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. 10.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Large investors have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC increased its holdings in Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after acquiring an additional 4,296 shares during the last quarter. Nordea Investment Management AB increased its holdings in 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 acquiring an additional 70,201 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Trade Desk in the 1st quarter worth about $1,034,000. Sei Investments Co. boosted its stake in Trade Desk by 16.3% in the 1st quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock worth $21,521,000 after purchasing an additional 34,520 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Trade Desk by 5.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock worth $9,179,000 after purchasing an additional 5,148 shares during the period. 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.