Cantor Fitzgerald Reiterates “Neutral” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $110.00 target price on the technology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 1.18% from the stock’s previous close.

Several other analysts also recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $111.00 target price (up from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. BTIG Research raised 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, August 9th. Wolfe Research began coverage on shares of Trade Desk in a report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price objective for the company. Moffett Nathanson started coverage on shares of Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.43.

Trade Desk Stock Performance

TTD stock opened at $108.72 on Monday. Trade Desk has a 52 week low of $60.23 and a 52 week high of $112.22. The stock has a market cap of $53.18 billion, a P/E ratio of 271.80, a P/E/G ratio of 5.27 and a beta of 1.48. The firm has a 50 day simple moving average of $100.15 and a 200 day simple moving average of $94.31.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the prior year, the business posted $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% compared to the same quarter last year. Sell-side analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the sale, the insider now directly owns 99,374 shares in the company, valued at approximately $9,887,713. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $70,606,106.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,056,669 shares of company stock valued at $113,117,247. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Trade Desk by 2.0% in 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 purchasing an additional 818,568 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after purchasing an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after purchasing an additional 209,222 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Trade Desk by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after purchasing an additional 59,161 shares in the last quarter. Institutional investors and hedge funds 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.