Vetr Inc. Lowers The Trade Desk Inc. (TTD) to Buy
Vetr cut shares of The Trade Desk Inc. (NASDAQ:TTD) from a strong-buy rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $71.92 price objective on the technology company’s stock.
Several other equities research analysts also recently commented on TTD. JMP Securities initiated coverage on shares of The Trade Desk in a research note on Monday, October 2nd. They set an outperform rating and a $70.00 price objective for the company. BidaskClub raised shares of The Trade Desk from a hold rating to a buy rating in a report on Tuesday, September 12th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $65.00 price objective on shares of The Trade Desk in a report on Monday, October 2nd. Needham & Company LLC reiterated a buy rating and issued a $66.00 target price (up previously from $62.00) on shares of The Trade Desk in a research report on Thursday, October 5th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $62.00 target price on shares of The Trade Desk in a research report on Thursday, September 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $66.63.
Shares of The Trade Desk (TTD) opened at $64.62 on Tuesday. The firm has a market capitalization of $2,612.37, a price-to-earnings ratio of 61.01 and a beta of 7.32. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.14.
The Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $72.80 million for the quarter, compared to the consensus estimate of $68.02 million. The firm’s quarterly revenue was up 54.2% on a year-over-year basis. research analysts predict that The Trade Desk will post 1.16 earnings per share for the current fiscal year.
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In related news, COO Robert David Perdue sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $53.66, for a total value of $670,750.00. Following the sale, the chief operating officer now directly owns 82,664 shares of the company’s stock, valued at $4,435,750.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Ross sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $54.16, for a total transaction of $541,600.00. Following the completion of the sale, the chief financial officer now directly owns 47,819 shares in the company, valued at $2,589,877.04. The disclosure for this sale can be found here. Insiders sold a total of 240,894 shares of company stock valued at $13,764,597 in the last quarter. Insiders own 26.87% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TTD. FMR LLC raised its stake in shares of The Trade Desk by 2,598.3% during the first quarter. FMR LLC now owns 1,397,700 shares of the technology company’s stock valued at $52,064,000 after purchasing an additional 1,345,900 shares during the period. Vanguard Group Inc. increased its stake in shares of The Trade Desk by 79.9% in the second quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock worth $99,976,000 after buying an additional 885,916 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of 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 worth $71,771,000 after buying an additional 748,795 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in The Trade Desk by 193.5% in the second quarter. Renaissance Technologies LLC now owns 828,300 shares of the technology company’s stock worth $41,506,000 after purchasing an additional 546,100 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in The Trade Desk by 79.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,196,045 shares of the technology company’s stock worth $59,933,000 after purchasing an additional 529,645 shares during the period. 63.08% of the stock is currently 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.
To view Vetr’s full report, visit Vetr’s official website.
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