Trade Desk (NASDAQ:TTD) Upgraded to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Trade Desk (NASDAQ:TTD) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Truist Financial reiterated a buy rating and set a $105.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. BMO Capital Markets reiterated an outperform rating and set a $108.00 target price (up previously from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. DA Davidson boosted their target price on shares of Trade Desk from $95.00 to $104.00 and gave the company a buy rating in a research report on Thursday, May 9th. Wedbush restated an outperform rating and set a $110.00 price objective on shares of Trade Desk in a report on Monday, July 22nd. Finally, Citigroup upped their price objective on shares of Trade Desk from $110.00 to $112.00 and gave the stock a buy rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $105.29.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $11.03 during trading on Tuesday, reaching $99.30. The stock had a trading volume of 13,299,325 shares, compared to its average volume of 4,207,968. The firm’s fifty day moving average is $95.34 and its 200 day moving average is $87.28. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67. The stock has a market cap of $48.57 billion, a price-to-earnings ratio of 248.26, a P/E/G ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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 company had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. On average, research analysts forecast that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of the firm’s 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 completion of 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 213,909 shares of company stock valued at $20,827,601 over the last three months. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Apella Capital LLC raised its position in Trade Desk by 1.9% in the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after buying an additional 100 shares during the last quarter. RFP Financial Group LLC raised its position in Trade Desk by 26.4% in the 2nd quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after buying an additional 116 shares during the last quarter. HBK Sorce Advisory LLC raised its position in Trade Desk by 2.0% in the 2nd quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company’s stock worth $612,000 after buying an additional 125 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of Trade Desk by 4.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock valued at $297,000 after purchasing an additional 127 shares during the period. Finally, Mayflower Financial Advisors LLC grew its stake in shares of Trade Desk by 3.2% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock valued at $409,000 after purchasing an additional 129 shares during the period. 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.