The Trade Desk Inc. (NASDAQ:TTD) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $54.00.
Several equities analysts have commented on TTD shares. Zacks Investment Research upgraded The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Friday, May 19th. Cantor Fitzgerald set a $60.00 price objective on The Trade Desk and gave the company a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $57.00 price objective (up from $41.00) on shares of The Trade Desk in a research report on Sunday, May 14th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $60.00 price objective (up from $41.00) on shares of The Trade Desk in a research report on Friday, May 12th.
The Trade Desk (TTD) traded up 3.68% during mid-day trading on Tuesday, hitting $51.90. 1,657,940 shares of the stock traded hands. The company has a market cap of $2.07 billion and a price-to-earnings ratio of 52.06. The Trade Desk has a 12-month low of $22.00 and a 12-month high of $57.87. The firm’s 50-day moving average is $52.31 and its 200-day moving average is $43.56.
The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.15 by $0.29. The company had revenue of $72.80 million for the quarter, compared to analyst estimates of $68.02 million. The company’s revenue was up 54.2% compared to the same quarter last year. Equities research analysts expect that The Trade Desk will post $1.08 EPS for the current year.
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In other news, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $50.05, for a total value of $159,460,150.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 4,515 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $53.69, for a total value of $242,410.35. Following the completion of the sale, the chief executive officer now owns 130,885 shares of the company’s stock, valued at $7,027,215.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,939,884 shares of company stock valued at $251,049,487. Company insiders own 26.87% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its stake in shares of The Trade Desk by 249.4% in the second quarter. Nationwide Fund Advisors now owns 9,885 shares of the technology company’s stock worth $495,000 after buying an additional 7,056 shares during the period. King Luther Capital Management Corp acquired a new stake in shares of The Trade Desk during the second quarter worth $6,602,000. Quantum Capital Management LLC NJ acquired a new stake in shares of The Trade Desk during the second quarter worth $3,787,000. Ameriprise Financial Inc. acquired a new stake in shares of The Trade Desk during the second quarter worth $1,252,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of The Trade Desk by 564.3% in the second quarter. TIAA CREF Investment Management LLC now owns 131,685 shares of the technology company’s stock worth $6,599,000 after buying an additional 111,863 shares during the period. Institutional investors own 53.33% of the company’s stock.
The Trade Desk Company Profile
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.
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