Trade Desk’s (TTD) Overweight Rating Reaffirmed at Piper Sandler

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They currently have a $140.00 price objective on the technology company’s stock, up from their previous price objective of $110.00. Piper Sandler’s price objective would suggest a potential upside of 5.64% from the stock’s current price.

Several other research analysts have also recently weighed in on TTD. Citigroup lifted their price target on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America initiated coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target for the company. Wells Fargo & Company initiated coverage on Trade Desk in a report on Monday, October 28th. They issued an “overweight” rating and a $150.00 target price for the company. Wedbush restated an “outperform” rating and issued a $115.00 target price (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Finally, Stifel Nicolaus upped their price target on Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.08.

Trade Desk Stock Up 6.2 %

Shares of Trade Desk stock opened at $132.53 on Friday. Trade Desk has a 52 week low of $60.23 and a 52 week high of $132.65. The stock’s fifty day moving average is $112.41 and its two-hundred day moving average is $100.68. The company has a market capitalization of $65.15 billion, a PE ratio of 265.06, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47.

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

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 80,649 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total value of $9,314,959.50. Following the sale, the chief executive officer now directly owns 7,330 shares of the company’s stock, valued at $846,615. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock worth $170,121,565 in the last quarter. 9.72% of the stock is owned by insiders.

Institutional Trading of Trade Desk

A number of hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. 1832 Asset Management L.P. lifted 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 buying an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. lifted its holdings in shares of Trade Desk by 4.3% in 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 buying an additional 100,000 shares during the period. Marshall Wace LLP lifted its holdings in shares of Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock worth $159,151,000 after purchasing an additional 177,832 shares during the last quarter. 67.77% of the stock is 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.