Trade Desk (NASDAQ:TTD) PT Raised to $115.00 at Needham & Company LLC

Trade Desk (NASDAQ:TTD) had its price target hoisted by analysts at Needham & Company LLC from $100.00 to $115.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 15.81% from the company’s previous close.

A number of other brokerages have also weighed in on TTD. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Trade Desk in a report on Friday. Loop Capital lifted their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Wolfe Research assumed coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday. Finally, Morgan Stanley raised their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $105.51.

Trade Desk Stock Up 12.5 %

TTD traded up $11.03 on Friday, reaching $99.30. 13,299,325 shares of the company traded hands, compared to its average volume of 4,207,968. Trade Desk has a one year low of $60.23 and a one year high of $102.67. The firm has a fifty day simple moving average of $95.34 and a two-hundred day simple moving average of $87.40. The company has a market cap of $48.57 billion, a P/E ratio of 248.26, a price-to-earnings-growth ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The company had revenue of $491.25 million during the quarter, compared to analyst estimates of $480.03 million. On average, equities analysts forecast that Trade Desk will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on 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 owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on 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 owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,909 shares of company stock valued at $20,827,601. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Assets Advisory LLC acquired a new stake in Trade Desk during the 1st quarter valued at approximately $2,626,000. Franklin Resources Inc. lifted its stake in shares of Trade Desk by 15.7% in 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 during the period. Nordea Investment Management AB lifted its stake in shares of Trade Desk by 11.4% in 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 during the period. Nisa Investment Advisors LLC lifted its stake in shares of Trade Desk by 30.3% in 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 during the period. Finally, Nicholas Company Inc. lifted its stake in shares of Trade Desk by 64.9% in 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 during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.