Trade Desk (NASDAQ:TTD) Given New $133.00 Price Target at Macquarie

Trade Desk (NASDAQ:TTD) had its target price boosted by investment analysts at Macquarie from $130.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Macquarie’s target price would indicate a potential upside of 6.29% from the company’s previous close.

Several other analysts have also commented on the company. Bank of America started coverage on Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Finally, New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price for the company. in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $120.69.

Trade Desk Stock Performance

Trade Desk stock traded down $7.40 during mid-day trading on Friday, reaching $125.13. 13,613,033 shares of the company were exchanged, compared to its average volume of 3,818,373. The business has a fifty day moving average of $112.41 and a 200 day moving average of $100.68. The firm has a market cap of $61.51 billion, a P/E ratio of 250.26, a PEG ratio of 6.00 and a beta of 1.47. Trade Desk has a 12-month low of $60.23 and a 12-month high of $132.65.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’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.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at $80,102,994.79. This represents 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 ninety days. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Envestnet Portfolio Solutions Inc. lifted its stake in Trade Desk by 59.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 88,836 shares of the technology company’s stock worth $7,766,000 after purchasing an additional 33,049 shares in the last quarter. Quantbot Technologies LP increased its holdings in Trade Desk by 299.3% in the 1st quarter. Quantbot Technologies LP now owns 27,792 shares of the technology company’s stock valued at $2,430,000 after purchasing an additional 20,831 shares during the last quarter. Empowered Funds LLC increased its holdings in Trade Desk by 15.3% in the 1st quarter. Empowered Funds LLC now owns 12,400 shares of the technology company’s stock valued at $1,084,000 after purchasing an additional 1,643 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Trade Desk by 149.6% in the first quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company’s stock worth $1,748,000 after acquiring an additional 11,981 shares in the last quarter. Finally, Forsta AP Fonden grew its stake in shares of Trade Desk by 10.2% during the first quarter. Forsta AP Fonden now owns 91,900 shares of the technology company’s stock worth $8,034,000 after purchasing an additional 8,500 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.