Oppenheimer Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price objective hoisted by investment analysts at Oppenheimer from $120.00 to $135.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price suggests a potential upside of 7.89% from the stock’s previous close.

Several other research firms have also weighed in on TTD. Susquehanna raised their target price on Trade Desk from $135.00 to $150.00 and gave the company a “positive” rating in a report on Friday. Stifel Nicolaus lifted their price objective on Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC lifted their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $120.69.

Trade Desk Trading Down 5.6 %

TTD opened at $125.13 on Friday. The stock has a market cap of $61.51 billion, a price-to-earnings ratio of 205.13, a PEG ratio of 6.00 and a beta of 1.47. Trade Desk has a 1 year low of $60.23 and a 1 year high of $132.65. The stock has a fifty day moving average price of $112.83 and a 200 day moving average price of $101.14.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, sell-side analysts forecast that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Laura Schenkein sold 3,130 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,557,897 shares of company stock worth $170,121,565. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in Trade Desk by 1.3% during the third quarter. Intech Investment Management LLC now owns 20,119 shares of the technology company’s stock valued at $2,206,000 after purchasing an additional 261 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Trade Desk during the third quarter worth $257,000. Moors & Cabot Inc. grew its stake in shares of Trade Desk by 10.0% during the third quarter. Moors & Cabot Inc. now owns 5,241 shares of the technology company’s stock worth $575,000 after buying an additional 475 shares during the last quarter. Kirtland Hills Capital Management LLC grew its stake in shares of Trade Desk by 6.3% during the third quarter. Kirtland Hills Capital Management LLC now owns 10,439 shares of the technology company’s stock worth $1,145,000 after buying an additional 619 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.