Truist Financial Boosts Trade Desk (NASDAQ:TTD) Price Target to $120.00

Trade Desk (NASDAQ:TTD) had its target price boosted by Truist Financial from $108.00 to $120.00 in a report published on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on the company. Morgan Stanley boosted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an overweight rating in a research note on Tuesday, July 23rd. Susquehanna upped their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a positive rating in a report on Friday, August 9th. Needham & Company LLC lifted their target price on shares of Trade Desk from $115.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday. Royal Bank of Canada upped their price target on shares of Trade Desk from $110.00 to $120.00 and gave the company an outperform rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus reiterated a buy rating and set a $111.00 price objective (up from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $109.89.

Trade Desk Price Performance

TTD opened at $113.00 on Wednesday. The firm has a market capitalization of $55.27 billion, a PE ratio of 282.50, a price-to-earnings-growth ratio of 5.23 and a beta of 1.48. The business’s 50-day moving average is $101.52 and its two-hundred day moving average is $95.00. Trade Desk has a 1 year low of $60.23 and a 1 year high of $113.84.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) 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 firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter in the previous year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, sell-side analysts expect that Trade Desk will post 0.86 EPS for the current year.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 20,579 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the transaction, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This trade represents a 0.00 % decrease in their ownership of the stock. 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 20,579 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $108.65, for a total value of $2,235,908.35. Following the transaction, the insider now directly owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the company’s 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,077,248 shares of company stock worth $115,353,156 in the last 90 days. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. increased its stake in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co acquired a new stake in Trade Desk during the first quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in Trade Desk during the second quarter worth about $30,000. Jones Financial Companies Lllp raised its stake in 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 purchasing an additional 418 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in Trade Desk in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.