Trade Desk (NASDAQ:TTD) Price Target Raised to $120.00

Trade Desk (NASDAQ:TTD) had its price objective lifted by Oppenheimer from $105.00 to $120.00 in a report released on Monday, MarketBeat reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 18.87% from the company’s current price.

A number of other analysts have also issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Stifel Nicolaus lifted their price objective on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Trade Desk in a research report on Tuesday, July 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 price objective (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Finally, Jefferies Financial Group raised Trade Desk from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.08.

Trade Desk Price Performance

TTD opened at $100.95 on Monday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $102.67. The business has a 50-day moving average of $95.69 and a 200-day moving average of $84.58. The company has a market capitalization of $49.38 billion, a PE ratio of 252.38, a price-to-earnings-growth ratio of 5.10 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 for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The company had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. On average, equities research analysts expect that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following 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 document filed with the SEC, which can be accessed through this link. In other Trade Desk news, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $97.92, for a total transaction of $236,476.80. Following the transaction, the director now owns 34,056 shares in the company, valued at approximately $3,334,763.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 141,434 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Insiders have sold 362,554 shares of company stock worth $33,414,310 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC bought a new stake in shares of Trade Desk during the 4th quarter worth approximately $42,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Trade Desk by 380.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,418 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,123 shares during the period. IFP Advisors Inc lifted its holdings in shares of Trade Desk by 304.9% during the 4th quarter. IFP Advisors Inc now owns 25,105 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 18,905 shares during the period. Nordea Investment Management AB lifted 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 worth $44,226,000 after acquiring an additional 147,717 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in Trade Desk by 10.8% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,484 shares of the technology company’s stock valued at $574,000 after purchasing an additional 824 shares during the last quarter. 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.