Trade Desk’s (TTD) “Market Outperform” Rating Reaffirmed at JMP Securities

by · The Cerbat Gem

JMP Securities reissued their market outperform rating on shares of Trade Desk (NASDAQ:TTD – Free Report) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $100.00 price target on the technology company’s stock.

TTD has been the topic of a number of other reports. KeyCorp upped their price target on shares of Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the company a “buy” rating in a research note on Tuesday, April 29th. Guggenheim cut their price target on Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Morgan Stanley lifted their price target on Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, UBS Group lowered their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Read Our Latest Stock Analysis on TTD

Trade Desk Price Performance

NASDAQ TTD opened at $68.02 on Tuesday. The company has a 50 day simple moving average of $67.18 and a 200-day simple moving average of $82.84. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 82.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts predict that Trade Desk will post 1.06 EPS for the current year.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares of the company’s stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. grew its position in Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock valued at $443,358,000 after acquiring an additional 5,387,339 shares during the period. Norges Bank acquired a new stake in shares of Trade Desk in the 4th quarter valued at $524,187,000. Nuveen LLC bought a new stake in shares of Trade Desk in the 1st quarter worth about $191,935,000. Raymond James Financial Inc. bought a new stake in shares of Trade Desk in the 4th quarter worth about $231,570,000. Finally, Vanguard Group Inc. increased its position in shares of Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

About Trade Desk

(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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