Cantor Fitzgerald Reiterates “Neutral” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “neutral” rating reissued by Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $110.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 3.96% from the company’s current price.

A number of other equities analysts also recently weighed in on TTD. Loop Capital upped their target price on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Moffett Nathanson started coverage on shares of Trade Desk in a research note on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price target on the stock. Oppenheimer lifted their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Robert W. Baird upped their target price on Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average price target of $109.89.

Trade Desk Price Performance

TTD stock opened at $114.53 on Monday. The firm has a market capitalization of $56.02 billion, a P/E ratio of 286.33, a P/E/G ratio of 5.44 and a beta of 1.48. Trade Desk has a 52-week low of $60.23 and a 52-week high of $114.58. The company’s 50 day simple moving average is $102.40 and its 200-day simple moving average is $95.58.

Trade Desk (NASDAQ:TTD) last announced its 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. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the business earned $0.07 EPS. The company’s revenue was up 25.9% on a year-over-year basis. Sell-side analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,248 shares of company stock valued at $157,894,406 in the last ninety days. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in Trade Desk during the 1st quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in Trade Desk during the 2nd quarter worth about $30,000. EdgeRock Capital LLC acquired a new stake in Trade Desk in the 2nd quarter valued at about $37,000. Finally, Quarry LP bought a new position in shares of Trade Desk in the second quarter worth about $41,000. Institutional investors and hedge funds 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.