Piper Sandler Reiterates Overweight Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a report released on Friday,Benzinga reports. They presently have a $140.00 price target on the technology company’s stock, up from their prior price target of $110.00. Piper Sandler’s price objective suggests a potential upside of 11.88% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Moffett Nathanson started coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Citigroup lifted their target price on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company started coverage on shares of Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 target price on the stock. Finally, Robert W. Baird lifted their target price on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.69.

Trade Desk Stock Down 5.6 %

Shares of Trade Desk stock opened at $125.13 on Friday. The firm has a market cap of $61.51 billion, a PE ratio of 205.13, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47. Trade Desk has a 12-month low of $60.23 and a 12-month high of $132.65. The company’s fifty day simple moving average is $112.83 and its two-hundred day simple moving average is $101.14.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. As a group, sell-side analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at approximately $351,846.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the company’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 transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venture Visionary Partners LLC boosted its position in shares of Trade Desk by 33.0% during the third 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. Sei Investments Co. raised its stake in shares of Trade Desk by 16.3% in the first quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock valued at $21,521,000 after acquiring an additional 34,520 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Trade Desk by 5.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock valued at $9,179,000 after acquiring an additional 5,148 shares during the period. Blair William & Co. IL raised its stake in shares of Trade Desk by 61.2% in the first 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 during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Trade Desk by 12.1% in the first quarter. Russell Investments Group Ltd. now owns 144,350 shares of the technology company’s stock valued at $12,608,000 after acquiring an additional 15,550 shares during the period. 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.