Zacks Investment Research upgraded shares of The Trade Desk Inc. (NASDAQ:TTD) from a sell rating to a hold rating in a research report report published on Friday.

According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “

A number of other brokerages also recently issued reports on TTD. Needham & Company LLC reissued a buy rating and set a $62.00 price target (up previously from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. Royal Bank Of Canada reissued an outperform rating and set a $65.00 price target (up previously from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. Jefferies Group LLC reissued a buy rating and set a $60.00 price target (up previously from $57.00) on shares of The Trade Desk in a research report on Friday, August 11th. BidaskClub downgraded The Trade Desk from a buy rating to a hold rating in a research report on Friday, November 10th. Finally, Citigroup Inc. reissued a buy rating and set a $60.00 price target (up previously from $55.00) on shares of The Trade Desk in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $67.07.

The Trade Desk (NASDAQ TTD) opened at $50.40 on Friday. The firm has a market capitalization of $2,054.11, a P/E ratio of 48.09 and a beta of 7.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The Trade Desk has a 52 week low of $25.48 and a 52 week high of $67.30.

The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 9th. The technology company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.15. The company had revenue of $79.40 million for the quarter, compared to analyst estimates of $76.84 million. The Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. research analysts expect that The Trade Desk will post 1.29 EPS for the current year.

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In related news, insider Jeffrey Terry Green sold 9,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $52.98, for a total transaction of $476,820.00. Following the sale, the insider now owns 117,400 shares of the company’s stock, valued at approximately $6,219,852. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Randall Pickles sold 70,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $60.89, for a total value of $4,262,300.00. Following the sale, the insider now directly owns 56,499 shares in the company, valued at approximately $3,440,224.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,894 shares of company stock worth $9,967,547. Company insiders own 26.87% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Advisor Group Inc. boosted its holdings in shares of The Trade Desk by 9,856.5% during the 2nd quarter. Advisor Group Inc. now owns 2,290 shares of the technology company’s stock valued at $115,000 after acquiring an additional 2,267 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of The Trade Desk by 665.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the technology company’s stock valued at $117,000 after acquiring an additional 2,029 shares in the last quarter. American International Group Inc. acquired a new stake in shares of The Trade Desk during the 1st quarter valued at $126,000. Great West Life Assurance Co. Can boosted its holdings in shares of The Trade Desk by 57.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,838 shares of the technology company’s stock valued at $165,000 after acquiring an additional 1,038 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of The Trade Desk by 75.4% during the 2nd quarter. Legal & General Group Plc now owns 3,872 shares of the technology company’s stock valued at $195,000 after acquiring an additional 1,664 shares in the last quarter. 64.44% of the stock is currently 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.

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Analyst Recommendations for The Trade Desk (NASDAQ:TTD)

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