Trade Desk (NASDAQ:TTD) Price Target Raised to $115.00

Trade Desk (NASDAQ:TTD) had its price objective lifted by Needham & Company LLC from $100.00 to $115.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 15.81% from the stock’s previous close.

A number of other brokerages have also recently commented on TTD. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of Trade Desk in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $111.00 price objective (up previously from $105.00) on shares of Trade Desk in a research note on Friday. BTIG Research increased their price objective on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Friday. Susquehanna increased their price objective on Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research note on Friday. Finally, KeyCorp increased their price objective on Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.17.

Trade Desk Price Performance

NASDAQ TTD traded up $11.03 on Friday, reaching $99.30. 13,288,533 shares of the company’s stock traded hands, compared to its average volume of 4,207,968. Trade Desk has a 12 month low of $60.23 and a 12 month high of $102.67. The stock has a 50-day simple moving average of $95.21 and a 200 day simple moving average of $87.08. The stock has a market cap of $48.57 billion, a PE ratio of 248.26, a P/E/G ratio of 4.34 and a beta of 1.48.

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

Insider Activity

In related news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders sold 213,909 shares of company stock worth $20,827,601 over the last three months. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Apella Capital LLC boosted its position in Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after purchasing an additional 100 shares during the last quarter. RFP Financial Group LLC boosted its position in Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after purchasing an additional 116 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Trade Desk by 2.0% in the second quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company’s stock worth $612,000 after purchasing an additional 125 shares during the last quarter. Diversify Advisory Services LLC boosted its position in Trade Desk by 4.5% in the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after purchasing an additional 127 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its position in Trade Desk by 3.2% in the second quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock worth $409,000 after purchasing an additional 129 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.