Trade Desk (NASDAQ:TTD) Upgraded by Citizens Jmp to “Strong-Buy” Rating

Citizens Jmp upgraded shares of Trade Desk (NASDAQ:TTD) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

TTD has been the topic of a number of other reports. Susquehanna restated a “positive” rating and set a $150.00 target price on shares of Trade Desk in a research report on Thursday, November 21st. Loop Capital lifted their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, Citigroup boosted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.13.

Trade Desk Stock Performance

Shares of TTD stock opened at $120.69 on Tuesday. Trade Desk has a fifty-two week low of $66.56 and a fifty-two week high of $141.53. The firm has a market capitalization of $59.57 billion, a PE ratio of 197.85, a P/E/G ratio of 3.94 and a beta of 1.45. The stock’s 50-day simple moving average is $125.93 and its 200-day simple moving average is $113.29.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.21). The business had revenue of $628.02 million during the quarter, compared to analysts’ expectations of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same period in the previous year, the company posted $0.08 earnings per share. Sell-side analysts forecast that Trade Desk will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several hedge funds have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth about $35,000. Avior Wealth Management LLC lifted its stake in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Quarry LP purchased a new position in Trade Desk in the second quarter valued at approximately $41,000. Finally, Brown Lisle Cummings Inc. increased its stake in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

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.