Trade Desk (NASDAQ:TTD) Upgraded to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Trade Desk (NASDAQ:TTD) to a strong-buy rating in a research report report published on Tuesday, Zacks.com reports.

A number of other equities analysts have also recently commented on TTD. Wedbush reissued an outperform rating and issued a $110.00 price target on shares of Trade Desk in a research note on Monday, July 22nd. Morgan Stanley upped their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the company an overweight rating in a research note on Tuesday, July 23rd. Loop Capital upped their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the company a buy rating in a research note on Thursday, May 16th. Citigroup upped their price objective on shares of Trade Desk from $110.00 to $112.00 and gave the company a buy rating in a research note on Thursday, May 9th. Finally, Truist Financial reaffirmed a buy rating and issued a $105.00 price objective on shares of Trade Desk in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $105.29.

Trade Desk Stock Performance

Trade Desk stock traded up $11.03 during midday trading on Tuesday, reaching $99.30. 13,299,325 shares of the stock were exchanged, compared to its average volume of 4,207,968. The company’s fifty day moving average is $95.34 and its 200-day moving average is $87.28. The firm has a market cap of $48.57 billion, a PE ratio of 248.26, a PEG ratio of 4.34 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67.

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

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,909 shares of company stock valued at $20,827,601. 10.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. Jennison Associates LLC raised its stake in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares during the period. Norges Bank bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. bought a new stake in shares of Trade Desk during the first quarter valued at approximately $225,710,000. Finally, Jericho Capital Asset Management L.P. raised its position in shares of Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after buying an additional 100,000 shares during 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.