Trade Desk (NASDAQ:TTD) Price Target Raised to $112.00 at Citigroup

Trade Desk (NASDAQ:TTD) had its price target raised by equities researchers at Citigroup from $110.00 to $112.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 26.31% from the company’s current price.

TTD has been the subject of several other research reports. KeyCorp upped their target price on shares of Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up from $105.00) on shares of Trade Desk in a research note on Thursday. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Trade Desk in a research note on Friday, February 16th. Seaport Res Ptn reissued a “neutral” rating on shares of Trade Desk in a research report on Monday, February 12th. Finally, Wells Fargo & Company boosted their target price on Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.72.

Trade Desk Stock Up 3.1 %

Trade Desk stock traded up $2.65 during mid-day trading on Thursday, hitting $88.67. 8,740,858 shares of the company were exchanged, compared to its average volume of 4,490,804. The company has a market capitalization of $43.35 billion, a PE ratio of 246.11, a price-to-earnings-growth ratio of 4.88 and a beta of 1.50. The business has a fifty day moving average of $83.98 and a 200 day moving average of $76.09. Trade Desk has a 1-year low of $60.23 and a 1-year high of $94.00.

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

Insider Activity at Trade Desk

In related news, Director Kathryn E. Falberg sold 103,030 shares of Trade Desk stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares of the company’s stock, valued at $19,869,677.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the business’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 value of $191,236.08. Following the transaction, the insider now directly owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn E. Falberg sold 103,030 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $81.90, for a total value of $8,438,157.00. Following the completion of the sale, the director now directly owns 242,609 shares of the company’s stock, valued at $19,869,677.10. The disclosure for this sale can be found here. Insiders sold 642,170 shares of company stock worth $53,970,398 over the last three months. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL lifted its position in Trade Desk by 61.2% in the 1st quarter. Blair William & Co. IL now owns 15,525 shares of the technology company’s stock valued at $1,357,000 after acquiring an additional 5,893 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Trade Desk by 91.9% in the first quarter. Picton Mahoney Asset Management now owns 118,446 shares of the technology company’s stock worth $10,355,000 after buying an additional 56,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Trade Desk by 0.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 310,223 shares of the technology company’s stock worth $27,120,000 after buying an additional 1,825 shares during the last quarter. Interchange Capital Partners LLC boosted its stake in shares of Trade Desk by 13.4% in the 1st quarter. Interchange Capital Partners LLC now owns 3,552 shares of the technology company’s stock valued at $314,000 after purchasing an additional 421 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Trade Desk by 3.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 485,577 shares of the technology company’s stock valued at $42,449,000 after buying an additional 18,003 shares during the period. Institutional investors 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.