The Trade Desk Inc. (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Friday. They currently have a $62.00 target price on the technology company’s stock, up from their prior target price of $56.00. Needham & Company LLC’s price target would indicate a potential upside of 23.85% from the stock’s current price.

TTD has been the subject of a number of other research reports. Zacks Investment Research raised shares of The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Friday, May 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Trade Desk in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $57.00 price objective (up previously from $41.00) on shares of The Trade Desk in a research note on Sunday, May 14th. Finally, Cantor Fitzgerald raised shares of The Trade Desk from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $56.00 in a research note on Friday, May 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.56.

Shares of The Trade Desk (NASDAQ:TTD) opened at 50.06 on Friday. The firm has a market capitalization of $2.00 billion and a PE ratio of 50.21. 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 posted its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, beating the Zacks’ 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 firm’s quarterly revenue was up 54.2% on a year-over-year basis. On average, analysts expect that The Trade Desk will post $1.08 EPS for the current fiscal year.

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In related news, COO Robert David Perdue sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $53.34, for a total transaction of $666,750.00. Following the completion of the sale, the chief operating officer now owns 89,766 shares of the company’s stock, valued at approximately $4,788,118.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 4,515 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $53.69, for a total transaction of $242,410.35. Following the sale, the chief executive officer now directly owns 130,885 shares of the company’s stock, valued at approximately $7,027,215.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,939,884 shares of company stock valued at $251,049,487. Corporate insiders own 26.87% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in The Trade Desk by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,617 shares of the technology company’s stock worth $582,000 after buying an additional 30 shares during the period. Wexford Capital LP increased its stake in The Trade Desk by 0.5% in the first quarter. Wexford Capital LP now owns 19,879 shares of the technology company’s stock worth $740,000 after buying an additional 100 shares during the period. Legal & General Group Plc increased its stake in The Trade Desk by 75.4% in the second quarter. Legal & General Group Plc now owns 3,872 shares of the technology company’s stock worth $195,000 after buying an additional 1,664 shares during the period. Strs Ohio increased its stake in The Trade Desk by 100.0% in the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock worth $126,000 after buying an additional 1,700 shares during the period. Finally, Nationwide Fund Advisors increased its stake in The Trade Desk by 181.5% in the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock worth $105,000 after buying an additional 1,824 shares during the period. 53.33% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for The Trade Desk (NASDAQ:TTD)

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