Macquarie Reaffirms “Outperform” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reiterated by equities researchers at Macquarie in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $115.00 target price on the technology company’s stock. Macquarie’s price objective points to a potential upside of 15.81% from the company’s current price.

Several other research analysts have also weighed in on TTD. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research report on Thursday, July 25th. Loop Capital increased their price objective on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective on shares of Trade Desk in a report on Tuesday, June 11th. DA Davidson increased their price objective on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Oppenheimer increased their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $105.17.

Trade Desk Trading Up 12.5 %

TTD stock traded up $11.03 during mid-day trading on Friday, hitting $99.30. The stock had a trading volume of 13,288,533 shares, compared to its average volume of 4,207,968. Trade Desk has a 1-year low of $60.23 and a 1-year high of $102.67. The company has a fifty day moving average of $95.21 and a 200 day moving average of $87.08. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 248.26, a PEG ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The company had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, sell-side analysts expect that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Assets Advisory LLC acquired a new stake in Trade Desk during the 1st quarter valued at $2,626,000. Franklin Resources Inc. increased its holdings in Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after purchasing an additional 53,441 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after purchasing an additional 70,201 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Trade Desk by 30.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,370 shares of the technology company’s stock valued at $4,776,000 after purchasing an additional 15,423 shares in the last quarter. Finally, Nicholas Company Inc. increased its holdings in Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after purchasing an additional 305,615 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.