Wedbush Reaffirms “Outperform” Rating for Trade Desk (NASDAQ:TTD)

Wedbush reissued their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a report published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $115.00 target price on the technology company’s stock, up from their previous target price of $110.00.

Other equities research analysts also recently issued reports about the company. Morgan Stanley lifted their price objective on Trade Desk from $100.00 to $110.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. BTIG Research upped their price target on Trade Desk from $110.00 to $114.00 and gave the company a buy rating in a research report on Friday, August 9th. StockNews.com cut Trade Desk from a buy rating to a hold rating in a report on Saturday, September 7th. Loop Capital upped their target price on shares of Trade Desk from $109.00 to $120.00 and gave the stock a buy rating in a report on Monday, August 26th. Finally, Evercore ISI raised shares of Trade Desk to a strong-buy rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk has a consensus rating of Moderate Buy and an average price target of $109.05.

Trade Desk Trading Up 1.5 %

TTD opened at $106.06 on Thursday. The stock’s 50 day simple moving average is $97.94 and its 200-day simple moving average is $92.22. The stock has a market cap of $52.14 billion, a PE ratio of 265.16, a P/E/G ratio of 5.03 and a beta of 1.48. Trade Desk has a 1 year low of $60.23 and a 1 year high of $107.64.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million for 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%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts forecast that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In related news, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the sale, the director now owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the completion of the sale, the director now directly owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,163 shares of company stock valued at $61,246,529. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. grew its position in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk during the 1st quarter worth about $27,000. Transcendent Capital Group LLC bought a new position in shares of Trade Desk in the 2nd quarter valued at about $30,000. Bogart Wealth LLC increased its position in shares of Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new stake in Trade Desk during the second quarter worth about $37,000. Institutional investors and hedge funds own 67.77% 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.