Macquarie Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price objective hoisted by investment analysts at Macquarie from $130.00 to $133.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Macquarie’s target price would suggest a potential upside of 6.29% from the company’s current price.

A number of other equities analysts have also recently commented on TTD. New Street Research cut shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price on the stock. in a research report on Tuesday, October 29th. Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Wolfe Research began coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $140.00 price target (up from $110.00) on shares of Trade Desk in a research report on Friday. Finally, Robert W. Baird lifted their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.69.

Trade Desk Stock Down 5.6 %

Trade Desk stock opened at $125.13 on Friday. The firm has a 50 day moving average price of $112.83 and a 200-day moving average price of $101.14. The company has a market capitalization of $61.51 billion, a P/E ratio of 205.13, a P/E/G ratio of 6.00 and a beta of 1.47. Trade Desk has a twelve month low of $60.23 and a twelve month high of $132.65.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Equities analysts expect that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last three months. 9.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. Transcendent Capital Group LLC purchased a new stake in shares of Trade Desk during the second quarter worth approximately $30,000. EdgeRock Capital LLC acquired a new stake in shares of Trade Desk during the second quarter worth $37,000. Avior Wealth Management LLC lifted its holdings in Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. Quarry LP acquired a new position in shares of Trade Desk during the 2nd quarter worth $41,000. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other 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.