Robert W. Baird Boosts Trade Desk (NASDAQ:TTD) Price Target to $130.00

Trade Desk (NASDAQ:TTD) had its price objective increased by Robert W. Baird from $110.00 to $130.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently weighed in on TTD. DA Davidson upped their price target on Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a report on Thursday, May 9th. Jefferies Financial Group raised Trade Desk from a hold rating to a buy rating and lifted their price target for the stock from $95.00 to $105.00 in a research note on Thursday, May 2nd. Morgan Stanley increased 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. Stifel Nicolaus restated a buy rating and set a $111.00 target price (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. Finally, Wedbush reiterated an outperform rating and issued a $110.00 price target on shares of Trade Desk in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of Moderate Buy and an average target price of $107.26.

Trade Desk Price Performance

Trade Desk stock opened at $100.50 on Monday. The stock’s 50 day moving average price is $95.52 and its 200 day moving average price is $88.01. The company has a market cap of $49.16 billion, a PE ratio of 251.26, a price-to-earnings-growth ratio of 5.09 and a beta of 1.48. Trade Desk has a 1-year low of $60.23 and a 1-year high of $102.67.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities research analysts anticipate that Trade Desk will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The disclosure for this sale can be found here. Insiders have sold 213,909 shares of company stock valued at $20,827,601 over the last three months. 10.18% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently bought and sold shares of TTD. Pinnacle Bancorp Inc. raised its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the period. Riverview Trust Co acquired a new stake in Trade Desk in the first quarter worth $27,000. Bogart Wealth LLC lifted its stake in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Trade Desk during the second quarter valued at $30,000. Finally, Jones Financial Companies Lllp grew its position in shares of Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after acquiring an additional 418 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Company Profile

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.