Truist Financial Raises Trade Desk (NASDAQ:TTD) Price Target to $108.00

Trade Desk (NASDAQ:TTD) had its target price lifted by investment analysts at Truist Financial from $105.00 to $108.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would suggest a potential upside of 13.52% from the stock’s current price.

TTD has been the topic of a number of other research reports. Citigroup boosted their price objective on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price target on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Macquarie increased their price objective on shares of Trade Desk from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. KeyCorp boosted their target price on shares of Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.93.

Trade Desk Price Performance

TTD stock traded up $6.87 during midday trading on Friday, reaching $95.14. 3,277,541 shares of the company’s stock traded hands, compared to its average volume of 4,142,563. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $102.67. The business has a 50-day moving average price of $95.21 and a two-hundred day moving average price of $87.08. The company has a market capitalization of $46.54 billion, a P/E ratio of 238.83, a PEG ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. As a group, research analysts forecast that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction 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 owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,909 shares of company stock valued at $20,827,601. Company insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co acquired a new stake in Trade Desk in the first quarter worth about $27,000. Bogart Wealth LLC grew its position in Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Trade Desk in the 2nd quarter valued at about $30,000. Finally, Jones Financial Companies Lllp increased its stake in Trade Desk by 889.4% during the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares during the period. 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.