Trade Desk’s (TTD) Buy Rating Reaffirmed at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $115.00 price target on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 15.33% from the company’s current price.

TTD has been the subject of a number of other research reports. Benchmark boosted their price objective on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 9th. BTIG Research boosted their target price on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $111.00 price target (up previously from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Macquarie reissued an “outperform” rating and issued a $115.00 price objective on shares of Trade Desk in a research report on Friday, August 9th. Finally, KeyCorp upped their target price on shares of Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $108.85.

Trade Desk Stock Up 0.4 %

Trade Desk stock opened at $99.71 on Wednesday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $105.39. The company’s 50-day moving average price is $97.67 and its 200-day moving average price is $91.80. The company has a market cap of $49.02 billion, a PE ratio of 249.28, a price-to-earnings-growth ratio of 4.83 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business 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.

Insiders Place Their Bets

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 642,868 shares of company stock valued at $65,415,112. 10.18% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Norges Bank acquired a new position in Trade Desk in the 4th quarter valued at $255,316,000. 1832 Asset Management L.P. purchased a new position in shares of Trade Desk in the first quarter worth about $225,710,000. Marshall Wace LLP boosted its position in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares during the last quarter. Vanguard Group Inc. grew its stake in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in Trade Desk by 138.3% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 765,157 shares of the technology company’s stock valued at $55,053,000 after acquiring an additional 444,032 shares during the last quarter. Hedge funds and other 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.