Needham & Company LLC reiterated their buy rating on shares of The Trade Desk Inc. (NASDAQ:TTD) in a research report released on Thursday morning, Marketbeat.com reports. Needham & Company LLC currently has a $66.00 price objective on the technology company’s stock, up from their previous price objective of $62.00.

Several other equities research analysts also recently weighed in on the stock. Susquehanna Bancshares Inc reiterated a positive rating and set a $66.00 target price on shares of The Trade Desk in a research note on Wednesday. Royal Bank Of Canada reiterated an outperform rating and set a $65.00 target price on shares of The Trade Desk in a research note on Monday, October 2nd. JMP Securities assumed coverage on shares of The Trade Desk in a research note on Monday, October 2nd. They set an outperform rating and a $70.00 target price for the company. Cantor Fitzgerald reiterated a buy rating and set a $62.00 target price on shares of The Trade Desk in a research note on Thursday, September 21st. Finally, BidaskClub upgraded shares of The Trade Desk from a hold rating to a buy rating in a research note on Tuesday, September 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $58.09.

The Trade Desk (NASDAQ TTD) traded up 5.45% during trading on Thursday, hitting $64.28. The company’s stock had a trading volume of 1,612,393 shares. The Trade Desk has a one year low of $22.01 and a one year high of $65.24. The firm has a market cap of $2.62 billion and a PE ratio of 59.35. The company has a 50-day moving average of $59.92 and a 200 day moving average of $59.92.

The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.02 million. The company’s revenue for the quarter was up 54.2% compared to the same quarter last year. On average, equities analysts forecast that The Trade Desk will post $1.43 earnings per share for the current year.

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In related news, CEO Jeffrey Terry Green sold 4,515 shares of the firm’s stock in a transaction dated 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 in the company, valued at $7,027,215.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Randall Pickles sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $60.89, for a total transaction of $4,262,300.00. Following the completion of the sale, the insider now owns 56,499 shares of the company’s stock, valued at approximately $3,440,224.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,704 shares of company stock valued at $17,504,114. 26.87% of the stock is owned by insiders.

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

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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