Susquehanna Bancshares Inc reaffirmed their positive rating on shares of The Trade Desk Inc. (NASDAQ:TTD) in a research note published on Friday, May 12th. The brokerage currently has a $60.00 target price on the technology company’s stock, up from their previous target price of $41.00.
Several other brokerages have also weighed in on TTD. Zacks Investment Research lowered The Trade Desk from a buy rating to a hold rating in a research note on Friday, March 10th. Cantor Fitzgerald cut The Trade Desk from an overweight rating to a neutral rating and set a $40.00 price objective on the stock. in a report on Thursday, March 2nd. They noted that the move was a valuation call. Jefferies Group LLC lifted their price objective on The Trade Desk from $32.00 to $48.00 and gave the stock a buy rating in a report on Friday, March 3rd. Royal Bank Of Canada lifted their price objective on The Trade Desk from $45.00 to $56.00 and gave the stock an outperform rating in a report on Friday, May 12th. Finally, Needham & Company LLC lifted their price objective on The Trade Desk from $48.00 to $56.00 and gave the stock a buy rating in a report on Friday, May 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $52.78.
The Trade Desk (NASDAQ:TTD) traded up 2.63% during trading on Friday, hitting $49.93. The stock had a trading volume of 1,612,731 shares. The company has a market cap of $1.99 billion and a price-to-earnings ratio of 50.08. The firm’s 50-day moving average price is $48.63 and its 200-day moving average price is $37.23. The Trade Desk has a 52-week low of $22.00 and a 52-week high of $57.57.
The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.17. The business had revenue of $53.40 million during the quarter, compared to analysts’ expectations of $43.30 million. The business’s revenue was up 75.7% on a year-over-year basis. Analysts predict that The Trade Desk will post $1.08 EPS for the current fiscal year.
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In other The Trade Desk news, CFO Paul Ross sold 71,400 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $55.87, for a total value of $3,989,118.00. Following the completion of the transaction, the chief financial officer now owns 83,854 shares in the company, valued at $4,684,922.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Harbor Master Investors Hadley sold 49,650 shares of the company’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $35.34, for a total transaction of $1,754,631.00. Following the completion of the transaction, the insider now owns 2,067,257 shares of the company’s stock, valued at approximately $73,056,862.38. The disclosure for this sale can be found here. Insiders sold 6,282,009 shares of company stock worth $296,837,176 in the last three months.
Institutional investors have recently added to or reduced their stakes in the stock. Founder Collective GP LLC bought a new position in The Trade Desk during the fourth quarter valued at about $121,420,000. Wellington Management Group LLP increased its position in The Trade Desk by 2,223.5% in the first quarter. Wellington Management Group LLP now owns 3,437,494 shares of the technology company’s stock valued at $128,047,000 after buying an additional 3,289,552 shares in the last quarter. Alliancebernstein L.P. bought a new position in The Trade Desk during the first quarter valued at about $70,071,000. FMR LLC increased its position in The Trade Desk by 2,598.3% in the first quarter. FMR LLC now owns 1,397,700 shares of the technology company’s stock valued at $52,064,000 after buying an additional 1,345,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in The Trade Desk by 149.9% in the first quarter. Vanguard Group Inc. now owns 1,109,222 shares of the technology company’s stock valued at $41,319,000 after buying an additional 665,330 shares in the last quarter. Institutional investors own 52.45% of the company’s stock.
About The Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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