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

Trade Desk (NASDAQ:TTD) had its price target lifted by Citigroup from $112.00 to $115.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley boosted their price target on Trade Desk from $100.00 to $110.00 and gave the company an overweight rating in a research note on Tuesday, July 23rd. Needham & Company LLC upped their target price on Trade Desk from $100.00 to $115.00 and gave the company a buy rating in a research report on Friday. Royal Bank of Canada increased their target price on Trade Desk from $110.00 to $120.00 and gave the stock an outperform rating in a report on Friday. BMO Capital Markets reaffirmed an outperform rating and issued a $108.00 price target (up previously from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Finally, Wedbush reissued an outperform rating and issued a $110.00 target price on shares of Trade Desk in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $105.51.

Trade Desk Stock Performance

Shares of TTD stock traded up $11.03 during midday trading on Friday, hitting $99.30. 13,299,325 shares of the company were exchanged, compared to its average volume of 4,207,968. The firm’s 50 day moving average price is $95.34 and its two-hundred day moving average price is $87.40. The firm has a market capitalization of $48.57 billion, a P/E ratio of 248.26, a PEG ratio of 4.34 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $480.03 million. Analysts expect that Trade Desk will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated 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 owns 703,038 shares in the company, valued at $67,055,764.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 approximately $67,055,764.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. increased its position 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 acquiring an additional 163 shares in the last quarter. Riverview Trust Co bought a new stake in Trade Desk during the first quarter worth $27,000. Bogart Wealth LLC boosted its holdings in Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk in the 2nd quarter worth $30,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after purchasing an additional 418 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.