Truist upgraded shares of The Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research note released on Tuesday morning, The Fly reports. The brokerage currently has $620.00 price objective on the technology company’s stock, down from their prior price objective of $880.00.
A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of The Trade Desk from $800.00 to $880.00 and gave the company a hold rating in a report on Friday, February 19th. They noted that the move was a valuation call. DA Davidson raised shares of The Trade Desk from a neutral rating to a buy rating and boosted their price objective for the company from $490.00 to $985.00 in a report on Thursday, February 25th. Evercore ISI started coverage on shares of The Trade Desk in a report on Tuesday, April 13th. They set an outperform rating and a $770.00 price objective on the stock. Vertical Research raised shares of The Trade Desk from a mixed rating to a positive rating in a report on Tuesday, April 27th. Finally, Oppenheimer dropped their price objective on shares of The Trade Desk from $950.00 to $600.00 and set an outperform rating on the stock in a report on Monday. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The Trade Desk presently has an average rating of Buy and an average price target of $751.52.
Shares of TTD stock opened at $514.35 on Tuesday. The business’s fifty day simple moving average is $687.45 and its 200-day simple moving average is $771.28. The company has a market cap of $24.37 billion, a PE ratio of 176.15, a PEG ratio of 9.99 and a beta of 2.59. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.09. The Trade Desk has a 12-month low of $269.00 and a 12-month high of $972.80.
The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Monday, May 10th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $1.07. The business had revenue of $219.80 million for the quarter, compared to the consensus estimate of $217.28 million. The Trade Desk had a return on equity of 19.65% and a net margin of 19.31%. The business’s quarterly revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts forecast that The Trade Desk will post 3.12 earnings per share for the current year.
In other news, CFO Blake Jeffrey Grayson sold 1,691 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $851.00, for a total transaction of $1,439,041.00. Following the sale, the chief financial officer now directly owns 19,033 shares of the company’s stock, valued at approximately $16,197,083. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO David Randall Pickles sold 1,647 shares of the company’s stock in a transaction dated Wednesday, April 21st. The stock was sold at an average price of $700.00, for a total transaction of $1,152,900.00. Following the transaction, the chief technology officer now owns 47,596 shares of the company’s stock, valued at approximately $33,317,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,678 shares of company stock worth $146,453,666. Corporate insiders own 12.04% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avitas Wealth Management LLC raised its position in shares of The Trade Desk by 35.9% during the 4th quarter. Avitas Wealth Management LLC now owns 1,303 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 344 shares during the last quarter. BlackRock Inc. raised its holdings in The Trade Desk by 5.9% in the 4th quarter. BlackRock Inc. now owns 2,483,610 shares of the technology company’s stock valued at $1,989,372,000 after acquiring an additional 138,203 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in The Trade Desk by 25.6% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 8,472 shares of the technology company’s stock valued at $6,786,000 after acquiring an additional 1,726 shares during the last quarter. NWK Group Inc. raised its holdings in The Trade Desk by 2.4% in the 4th quarter. NWK Group Inc. now owns 6,116 shares of the technology company’s stock valued at $4,899,000 after acquiring an additional 143 shares during the last quarter. Finally, Roman Butler Fullerton & Co. acquired a new stake in The Trade Desk in the 4th quarter valued at about $405,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.
The Trade Desk Company Profile
The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns in various ad formats and channels, including display, video, audio, in-app, native and social, and on various devices, such as computers, mobile devices, and connected TV.
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