Wedbush Increases Trade Desk (NASDAQ:TTD) Price Target to $135.00

Trade Desk (NASDAQ:TTD) had its price target upped by analysts at Wedbush from $115.00 to $135.00 in a report issued on Friday, Marketbeat reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s price target would indicate a potential upside of 7.89% from the stock’s previous close.

Several other equities analysts have also recently commented on TTD. New Street Research cut shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price on the stock. in a research report on Tuesday, October 29th. Oppenheimer lifted their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Truist Financial boosted their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp boosted their price target on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Susquehanna boosted their price target on shares of Trade Desk from $135.00 to $150.00 and gave the stock a “positive” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.69.

Trade Desk Price Performance

Shares of TTD opened at $125.13 on Friday. The stock has a 50-day moving average of $112.83 and a 200-day moving average of $101.14. The company has a market cap of $61.51 billion, a PE ratio of 205.13, a P/E/G ratio of 6.00 and a beta of 1.47. Trade Desk has a one year low of $60.23 and a one year high of $132.65.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share 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 business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. Analysts expect that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $160,712.42. Following the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,557,897 shares of company stock valued at $170,121,565. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TTD. Envestnet Portfolio Solutions Inc. increased its holdings in Trade Desk by 59.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 88,836 shares of the technology company’s stock worth $7,766,000 after purchasing an additional 33,049 shares during the period. Quantbot Technologies LP boosted its position in Trade Desk by 299.3% during the 1st quarter. Quantbot Technologies LP now owns 27,792 shares of the technology company’s stock valued at $2,430,000 after acquiring an additional 20,831 shares in the last quarter. Empowered Funds LLC boosted its position in Trade Desk by 15.3% during the 1st quarter. Empowered Funds LLC now owns 12,400 shares of the technology company’s stock valued at $1,084,000 after acquiring an additional 1,643 shares in the last quarter. SG Americas Securities LLC boosted its position in Trade Desk by 149.6% during the 1st quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company’s stock valued at $1,748,000 after acquiring an additional 11,981 shares in the last quarter. Finally, Forsta AP Fonden boosted its position in Trade Desk by 10.2% during the 1st quarter. Forsta AP Fonden now owns 91,900 shares of the technology company’s stock valued at $8,034,000 after acquiring an additional 8,500 shares in the last quarter. 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.