Trade Desk (NASDAQ:TTD) PT Raised to $120.00 at Truist Financial

Trade Desk (NASDAQ:TTD) had its target price upped by equities researchers at Truist Financial from $108.00 to $120.00 in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would indicate a potential upside of 7.66% from the company’s current price.

A number of other equities analysts have also weighed in on TTD. Evercore ISI raised Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Morgan Stanley raised their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 target price (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.89.

Trade Desk Stock Up 2.5 %

Shares of NASDAQ TTD opened at $111.46 on Wednesday. The firm has a 50-day simple moving average of $100.69 and a 200-day simple moving average of $94.64. The stock has a market capitalization of $54.52 billion, a price-to-earnings ratio of 273.73, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $112.22.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. Trade Desk’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. As a group, equities research analysts expect that Trade Desk will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the completion of the transaction, the insider now directly owns 178,853 shares in the company, valued at $19,432,378.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 in the company, valued at $19,432,378.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the completion of the transaction, the chief executive officer now owns 365,180 shares of the company’s stock, valued at approximately $40,366,997.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,077,248 shares of company stock worth $115,353,156 in the last ninety days. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its holdings in Trade Desk by 12.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the technology company’s stock valued at $522,000 after purchasing an additional 798 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Trade Desk by 16.1% in the 4th quarter. Allianz Asset Management GmbH now owns 52,702 shares of the technology company’s stock valued at $3,792,000 after buying an additional 7,289 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Trade Desk by 5.6% in the 4th quarter. Scotia Capital Inc. now owns 3,144 shares of the technology company’s stock valued at $226,000 after buying an additional 167 shares in the last quarter. Bank of Nova Scotia raised its stake in Trade Desk by 307.7% during the 4th quarter. Bank of Nova Scotia now owns 13,388 shares of the technology company’s stock worth $963,000 after acquiring an additional 10,104 shares in the last quarter. Finally, KBC Group NV lifted its position in Trade Desk by 104.5% in the fourth quarter. KBC Group NV now owns 80,672 shares of the technology company’s stock valued at $5,806,000 after acquiring an additional 41,221 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.