The Trade Desk Inc. (NASDAQ:TTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, July 13th.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
A number of other research firms also recently commented on TTD. Citigroup Inc. reiterated a “buy” rating and issued a $55.00 price target (up from $39.00) on shares of The Trade Desk in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 price target (up from $41.00) on shares of The Trade Desk in a research note on Sunday, May 14th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $60.00 target price (up from $41.00) on shares of The Trade Desk in a research note on Friday, May 12th. Cantor Fitzgerald set a $60.00 target price on The Trade Desk and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada lifted their target price on The Trade Desk from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, May 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.44.
The Trade Desk (NASDAQ TTD) traded up 8.77% on Thursday, hitting $54.45. The stock had a trading volume of 3,901,204 shares. The stock has a market cap of $2.18 billion and a P/E ratio of 54.61. The Trade Desk has a one year low of $22.00 and a one year high of $57.87. The company’s 50-day moving average is $52.31 and its 200-day moving average is $43.56.
The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.29. The firm had revenue of $72.80 million during the quarter, compared to analyst estimates of $68.02 million. The company’s revenue for the quarter was up 54.2% compared to the same quarter last year. On average, analysts anticipate that The Trade Desk will post $1.08 earnings per share for the current fiscal year.
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In other news, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $50.05, for a total transaction of $159,460,150.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric B. Paley sold 1,130,435 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $52.00, for a total value of $58,782,620.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,939,884 shares of company stock worth $251,049,487. Corporate insiders own 26.87% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of 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. purchased a new stake in shares of The Trade Desk during the first quarter valued at approximately $70,071,000. FMR LLC boosted 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 valued at $52,064,000 after buying an additional 1,345,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of The Trade Desk by 79.9% in the second quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after buying an additional 885,916 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of The Trade Desk during the first quarter valued at approximately $24,823,000. 53.33% of the stock is currently owned by hedge funds and other 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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