The Trade Desk Inc. (TTD) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of The Trade Desk Inc. (NASDAQ:TTD) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other research firms have also commented on TTD. Citigroup Inc. reaffirmed a buy rating and set a $55.00 target price (up previously from $39.00) on shares of The Trade Desk in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a buy rating and set a $60.00 target price (up previously from $57.00) on shares of The Trade Desk in a report on Friday, August 11th. Susquehanna Bancshares Inc reaffirmed a positive rating and set a $66.00 target price on shares of The Trade Desk in a report on Thursday, September 7th. Royal Bank Of Canada reaffirmed an outperform rating and set a $65.00 target price (up previously from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. Finally, Cantor Fitzgerald set a $60.00 target price on shares of The Trade Desk and gave the stock a buy rating in a report on Thursday, June 22nd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The Trade Desk has an average rating of Buy and an average price target of $56.00.

The Trade Desk (TTD) opened at 61.68 on Tuesday. The company has a market capitalization of $2.52 billion and a price-to-earnings ratio of 56.95. The company has a 50-day moving average price of $60.57 and a 200-day moving average price of $43.86. The Trade Desk has a one year low of $22.01 and a one year high of $62.86.

The Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.29. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The company had revenue of $72.80 million during the quarter, compared to analysts’ expectations of $68.02 million. The business’s revenue for the quarter was up 54.2% compared to the same quarter last year. Equities research analysts anticipate that The Trade Desk will post $1.44 EPS for the current year.

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In other news, Director Kathryn E. Falberg purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $48.06 per share, with a total value of $961,200.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at $1,922,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian John Stempeck sold 35,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $49.19, for a total transaction of $1,721,650.00. Following the completion of the transaction, the insider now directly owns 27,925 shares of the company’s stock, valued at approximately $1,373,630.75. The disclosure for this sale can be found here. Insiders sold a total of 349,215 shares of company stock valued at $18,110,153 in the last three months. 26.87% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its holdings in shares of The Trade Desk by 109.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after buying an additional 748,795 shares during the period. Ashford Capital Management Inc. grew its holdings in shares of The Trade Desk by 111.1% in the 2nd quarter. Ashford Capital Management Inc. now owns 249,945 shares of the technology company’s stock valued at $12,525,000 after buying an additional 131,545 shares during the period. Cetera Investment Advisers acquired a new position in shares of The Trade Desk in the 2nd quarter valued at $800,000. California State Teachers Retirement System grew its holdings in shares of The Trade Desk by 181.7% in the 2nd quarter. California State Teachers Retirement System now owns 30,700 shares of the technology company’s stock valued at $1,538,000 after buying an additional 19,800 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of The Trade Desk by 55.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 34,528 shares of the technology company’s stock valued at $1,730,000 after buying an additional 12,247 shares during the period. 62.80% of the stock is owned by institutional investors.

About The Trade Desk

The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.

Analyst Recommendations for The Trade Desk (NASDAQ:TTD)

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