The Trade Desk Inc. (NASDAQ:TTD) was upgraded by investment analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report issued on Friday, May 12th, MarketBeat.com reports. The firm presently has a $56.00 target price on the technology company’s stock, up from their previous target price of $45.00. Cantor Fitzgerald’s price objective points to a potential upside of 12.16% from the company’s current price.
Several other research analysts have also issued reports on TTD. Jefferies Group LLC reiterated a “buy” rating and issued a $41.00 price target on shares of The Trade Desk in a research note on Tuesday, February 21st. Zacks Investment Research upgraded shares of The Trade Desk from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Saturday, February 25th. Finally, Vetr raised shares of The Trade Desk from a “sell” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The Trade Desk presently has an average rating of “Buy” and a consensus target price of $52.78.
Shares of The Trade Desk (NASDAQ:TTD) traded up 2.63% during mid-day trading on Friday, hitting $49.93. 1,612,731 shares of the company’s stock traded hands. The firm has a 50-day moving average of $48.63 and a 200 day moving average of $37.23. The company has a market cap of $1.99 billion and a PE ratio of 50.08. 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 issued its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.17. The business had revenue of $53.40 million during the quarter, compared to the consensus estimate of $43.30 million. The company’s revenue for the quarter was up 75.7% on a year-over-year basis. Equities research analysts predict that The Trade Desk will post $1.08 EPS for the current year.
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In related news, Director Kathryn E. Falberg acquired 20,000 shares of The Trade Desk stock in a transaction dated Thursday, June 15th. The shares were purchased at an average price of $48.06 per share, for a total transaction of $961,200.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,922,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Ross sold 71,400 shares of The Trade Desk stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $55.87, for a total transaction of $3,989,118.00. Following the sale, the chief financial officer now owns 83,854 shares in the company, valued at approximately $4,684,922.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,282,009 shares of company stock worth $296,837,176.
A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Founder Collective GP LLC purchased a new position in The Trade Desk during the fourth quarter valued at approximately $121,420,000. Wellington Management Group LLP raised 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 during the last quarter. Alliancebernstein L.P. bought a new stake in shares of The Trade Desk during the first quarter worth about $70,071,000. FMR LLC raised its stake in shares of 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 worth $52,064,000 after buying an additional 1,345,900 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of The Trade Desk during the first quarter worth about $24,823,000. 52.45% of the stock is owned by institutional investors.
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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