Trade Desk Inc (NASDAQ:TTD) Receives $190.34 Average Price Target from Brokerages

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Trade Desk Inc (NASDAQ:TTD) has been assigned a consensus recommendation of “Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $192.19.

A number of equities research analysts have weighed in on TTD shares. BidaskClub downgraded shares of Trade Desk from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 27th. SunTrust Banks reissued a “buy” rating and issued a $210.00 price target on shares of Trade Desk in a report on Wednesday, March 27th. Needham & Company LLC assumed coverage on shares of Trade Desk in a research note on Monday, April 22nd. They set a “hold” rating and a $211.03 price objective for the company. Zacks Investment Research raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, JMP Securities lowered shares of Trade Desk from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th.

NASDAQ TTD traded up $3.94 on Tuesday, reaching $237.77. The company’s stock had a trading volume of 926,980 shares, compared to its average volume of 1,390,613. Trade Desk has a twelve month low of $83.66 and a twelve month high of $257.99. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $10.59 billion, a PE ratio of 123.84, a PEG ratio of 6.51 and a beta of 2.72. The business has a 50 day moving average price of $224.12.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.42. Trade Desk had a net margin of 17.41% and a return on equity of 24.41%. The company had revenue of $121.00 million during the quarter, compared to the consensus estimate of $117.13 million. During the same period in the prior year, the company earned $0.34 EPS. Trade Desk’s revenue was up 41.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Trade Desk will post 1.83 EPS for the current fiscal year.

In other news, Director Thomas Falk sold 25,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $199.24, for a total value of $4,981,000.00. Following the completion of the sale, the director now directly owns 9,289 shares of the company’s stock, valued at $1,850,740.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Randall Pickles sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $247.77, for a total transaction of $2,477,700.00. Following the completion of the sale, the insider now directly owns 60,123 shares of the company’s stock, valued at $14,896,675.71. The disclosure for this sale can be found here. Insiders have sold 171,507 shares of company stock valued at $37,462,296 over the last ninety days. Insiders own 17.44% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TTD. Vanguard Group Inc lifted its position in shares of Trade Desk by 16.0% in the third quarter. Vanguard Group Inc now owns 3,007,013 shares of the technology company’s stock worth $453,788,000 after purchasing an additional 414,136 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Trade Desk in the fourth quarter worth approximately $1,822,000. LPL Financial LLC lifted its position in shares of Trade Desk by 19.8% in the fourth quarter. LPL Financial LLC now owns 36,279 shares of the technology company’s stock worth $4,211,000 after purchasing an additional 6,004 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Trade Desk by 38.2% in the fourth quarter. New York State Common Retirement Fund now owns 57,783 shares of the technology company’s stock worth $6,706,000 after purchasing an additional 15,976 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Trade Desk by 4.8% in the fourth quarter. BlackRock Inc. now owns 2,424,756 shares of the technology company’s stock worth $281,417,000 after purchasing an additional 111,859 shares in the last quarter. 67.39% of the stock is owned by institutional investors and hedge funds.

About Trade Desk

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

Further Reading: Overbought

Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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