Trade Desk (NASDAQ:TTD) Given Overweight Rating at Piper Sandler

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They presently have a $140.00 price target on the technology company’s stock, up from their prior price target of $110.00. Piper Sandler’s target price would indicate a potential upside of 11.88% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $115.00 price target (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Wells Fargo & Company initiated coverage on shares of Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 target price on the stock. Wolfe Research initiated coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Finally, KeyCorp lifted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $120.69.

Trade Desk Stock Down 5.6 %

Shares of Trade Desk stock opened at $125.13 on Friday. The firm has a market capitalization of $61.51 billion, a P/E ratio of 205.13, a PEG ratio of 6.00 and a beta of 1.47. The company has a 50 day moving average price of $112.83 and a 200 day moving average price of $101.14. Trade Desk has a 52 week low of $60.23 and a 52 week high of $132.65.

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

Insider Transactions at Trade Desk

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction 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 transaction, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk 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 completion of the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,557,897 shares of company stock valued at $170,121,565 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Institutional Trading of Trade Desk

A number of institutional investors have recently modified their holdings of the company. Intech Investment Management LLC grew its holdings in shares of Trade Desk by 1.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,119 shares of the technology company’s stock worth $2,206,000 after purchasing an additional 261 shares during the period. Citizens Financial Group Inc. RI acquired a new position in Trade Desk during the 3rd quarter worth approximately $257,000. Moors & Cabot Inc. lifted its position in Trade Desk by 10.0% during the 3rd quarter. Moors & Cabot Inc. now owns 5,241 shares of the technology company’s stock worth $575,000 after acquiring an additional 475 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its position in Trade Desk by 6.3% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 10,439 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 619 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Trade Desk by 11.0% during 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. Hedge funds and other institutional investors 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.