Analysts Set The Trade Desk, Inc. (NASDAQ:TTD) Price Target at $93.69

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have received an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $93.69.

A number of equities analysts have issued reports on TTD shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Trade Desk in a report on Thursday, May 9th. Jefferies Financial Group raised Trade Desk from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $105.00 in a research report on Thursday, May 2nd. Loop Capital upped their target price on Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Citigroup upped their target price on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada upped their target price on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th.

Trade Desk Price Performance

Shares of TTD stock opened at $99.47 on Friday. The business’s 50 day simple moving average is $93.60 and its 200 day simple moving average is $83.03. Trade Desk has a one year low of $60.23 and a one year high of $100.25. The stock has a market capitalization of $48.65 billion, a PE ratio of 248.68, a PEG ratio of 5.04 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, research analysts expect that Trade Desk will post 0.85 earnings per share for the current year.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the transaction, the director now owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,154 shares of company stock worth $31,128,226. 10.18% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the business. Global Assets Advisory LLC purchased a new stake in shares of Trade Desk in the 1st quarter valued at about $2,626,000. Franklin Resources Inc. raised its holdings in shares of Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after buying an additional 53,441 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Trade Desk by 31.7% during the 4th quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock valued at $44,226,000 after buying an additional 147,717 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Trade Desk by 30.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock valued at $21,078,000 after buying an additional 67,520 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Trade Desk by 12.8% during the 4th quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after buying an additional 28,714 shares in the last quarter. Hedge funds and other 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.