Trade Desk (NASDAQ:TTD) Price Target Raised to $92.00

by · The Cerbat Gem

Trade Desk (NASDAQ:TTD – Free Report) had its price target lifted by Macquarie from $90.00 to $92.00 in a report released on Monday morning,Benzinga reports. Macquarie currently has an outperform rating on the technology company’s stock.

Several other research firms also recently commented on TTD. Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a report on Friday, May 9th. KeyCorp increased their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Guggenheim decreased their target price on Trade Desk from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.12.

View Our Latest Analysis on TTD

Trade Desk Stock Performance

Shares of TTD stock opened at $74.47 on Monday. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The stock has a market cap of $36.94 billion, a price-to-earnings ratio of 95.47, a PEG ratio of 3.11 and a beta of 1.29. The firm’s 50-day moving average is $57.31 and its 200-day moving average is $92.97.

Trade Desk (NASDAQ:TTD – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. Sell-side analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Trade Desk by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 56,413 shares of the technology company’s stock valued at $3,087,000 after buying an additional 21,199 shares during the period. IFM Investors Pty Ltd grew its holdings in Trade Desk by 1.7% during the 1st quarter. IFM Investors Pty Ltd now owns 80,948 shares of the technology company’s stock worth $4,429,000 after acquiring an additional 1,370 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in Trade Desk by 4.2% during the 1st quarter. Belpointe Asset Management LLC now owns 15,723 shares of the technology company’s stock worth $860,000 after acquiring an additional 628 shares during the last quarter. Fortis Capital Advisors LLC increased its position in Trade Desk by 32.1% in the 1st quarter. Fortis Capital Advisors LLC now owns 15,723 shares of the technology company’s stock valued at $860,000 after acquiring an additional 3,818 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Trade Desk by 5,779.8% during the first quarter. Intech Investment Management LLC now owns 241,837 shares of the technology company’s stock valued at $13,233,000 after acquiring an additional 237,724 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

(Get Free Report)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.

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