The Trade Desk, Inc. (NASDAQ:TTD) Receives $109.89 Consensus Target Price from Brokerages

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have received a consensus recommendation of “Moderate Buy” from the twenty-nine brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twenty-three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $112.01.

Several research firms have recently commented on TTD. Wolfe Research initiated coverage on Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target on the stock. BTIG Research increased their price target on shares of Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley boosted their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Finally, Benchmark boosted their price target on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 9th.

Trade Desk Stock Up 0.1 %

Shares of NASDAQ:TTD opened at $117.97 on Tuesday. The company’s fifty day moving average is $104.87 and its 200 day moving average is $96.41. Trade Desk has a 52 week low of $60.23 and a 52 week high of $118.82. The stock has a market cap of $57.99 billion, a PE ratio of 235.94, a PEG ratio of 5.57 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating 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%. The firm’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Sell-side analysts anticipate that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 80,649 shares of Trade Desk stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the transaction, the chief executive officer now owns 7,330 shares in the company, valued at approximately $846,615. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the sale, the chief financial officer now owns 693,953 shares in the company, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the transaction, the chief executive officer now owns 7,330 shares of the company’s stock, valued at approximately $846,615. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,557,897 shares of company stock worth $170,095,115. Corporate insiders own 9.72% 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 TTD. Creative Planning increased its holdings in shares of Trade Desk by 10.6% in the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after buying an additional 12,384 shares during the last quarter. Compagnie Lombard Odier SCmA grew its position in Trade Desk by 6.2% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,123 shares of the technology company’s stock worth $233,000 after acquiring an additional 123 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in Trade Desk during the third quarter valued at approximately $213,000. Annex Advisory Services LLC bought a new stake in shares of Trade Desk in the 3rd quarter valued at approximately $210,000. Finally, Inspire Investing LLC purchased a new position in shares of Trade Desk in the 3rd quarter worth approximately $2,245,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.