DA Davidson Analysts Raise Earnings Estimates for Trade Desk

The Trade Desk, Inc. (NASDAQ:TTD) – Investment analysts at DA Davidson upped their FY2024 earnings estimates for Trade Desk in a report released on Monday, November 11th. DA Davidson analyst T. White now forecasts that the technology company will post earnings of $0.82 per share for the year, up from their prior forecast of $0.75. DA Davidson currently has a “Buy” rating and a $134.00 target price on the stock. The consensus estimate for Trade Desk’s current full-year earnings is $0.86 per share. DA Davidson also issued estimates for Trade Desk’s Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.08 EPS.

Several other equities research analysts have also recently issued reports on the company. BTIG Research raised their price objective on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wedbush raised their price target on Trade Desk from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer lifted their price target on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Macquarie boosted their target price on shares of Trade Desk from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.65.

Trade Desk Stock Performance

TTD stock opened at $129.34 on Tuesday. The company has a 50 day moving average price of $113.32 and a two-hundred day moving average price of $101.59. The stock has a market capitalization of $63.58 billion, a P/E ratio of 212.03, a PEG ratio of 6.02 and a beta of 1.47. Trade Desk has a one year low of $61.47 and a one year high of $132.65.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its position in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake 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 purchasing an additional 872,555 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction dated Friday, August 16th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $99.50, for a total value of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 20,579 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the sale, the insider now directly owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. Insiders own 9.72% 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.