Trade Desk (NASDAQ:TTD) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Trade Desk (NASDAQ:TTD) in a report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the technology company’s stock.

A number of other brokerages also recently weighed in on TTD. Piper Sandler reissued an overweight rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. DA Davidson upped their price target on Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a report on Thursday, May 9th. Royal Bank of Canada upped their price target on Trade Desk from $105.00 to $110.00 and gave the stock an outperform rating in a report on Thursday, May 9th. BMO Capital Markets reiterated an outperform rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Finally, Loop Capital upped their price target on Trade Desk from $102.00 to $109.00 and gave the stock a buy rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $100.38.

Trade Desk Stock Performance

Shares of TTD stock opened at $92.43 on Thursday. The stock’s 50 day simple moving average is $96.63 and its 200 day simple moving average is $85.79. Trade Desk has a twelve month low of $60.23 and a twelve month high of $102.67. The company has a market capitalization of $45.21 billion, a price-to-earnings ratio of 231.08, a PEG ratio of 4.65 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. On average, analysts forecast that Trade Desk will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 2,415 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the sale, the director now directly owns 34,056 shares in the company, valued at $3,334,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the sale, the director now owns 34,056 shares in the company, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Insiders have sold 288,909 shares of company stock worth $27,162,851 over the last three months. Company insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Large investors have recently made changes to their positions in the business. Pinnacle Bancorp Inc. grew its holdings in shares of Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk during the first quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in shares of Trade Desk during the second quarter valued at $30,000. Bogart Wealth LLC lifted its stake in shares of Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in shares of Trade Desk during the second quarter valued at $37,000. 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.