Citizens Jmp Upgrades Trade Desk (NASDAQ:TTD) to Strong-Buy

Trade Desk (NASDAQ:TTD) was upgraded by Citizens Jmp to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on TTD. Royal Bank of Canada lifted their target price on Trade Desk from $136.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Susquehanna reiterated a “positive” rating and issued a $150.00 target price on shares of Trade Desk in a report on Thursday, November 21st. Morgan Stanley raised their price target on shares of Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Truist Financial upped their price objective on shares of Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Stock Down 3.1 %

Shares of TTD stock opened at $120.69 on Tuesday. Trade Desk has a twelve month low of $66.56 and a twelve month high of $141.53. The stock’s fifty day simple moving average is $125.93 and its 200 day simple moving average is $113.29. The firm has a market capitalization of $59.57 billion, a P/E ratio of 197.85, a P/E/G ratio of 3.94 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). The firm had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, equities research analysts expect that Trade Desk will post 0.87 EPS for the current fiscal year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTD. Baillie Gifford & Co. raised its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. FMR LLC grew its holdings in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after purchasing an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after purchasing an additional 68,206 shares during the last quarter. Hedge funds and other 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.