Trade Desk (TTD) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a research report released on Saturday.

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. “

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Trade Desk from a hold rating to a buy rating in a research report on Wednesday, January 2nd. BidaskClub upgraded shares of Trade Desk from a hold rating to a buy rating in a research report on Wednesday, November 28th. Jefferies Financial Group upped their target price on shares of Trade Desk from $135.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, October 17th. Oppenheimer upped their target price on shares of Trade Desk from $130.00 to $160.00 and gave the company an outperform rating in a research report on Friday, December 14th. Finally, Rosenblatt Securities initiated coverage on shares of Trade Desk in a research report on Tuesday, October 2nd. They set a neutral rating and a $138.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Trade Desk presently has an average rating of Buy and a consensus target price of $123.42.

TTD stock traded up $5.81 during trading on Friday, hitting $138.99. The company had a trading volume of 1,090,917 shares, compared to its average volume of 901,265. Trade Desk has a 12 month low of $40.70 and a 12 month high of $161.50. The stock has a market capitalization of $6.01 billion, a PE ratio of 116.80, a price-to-earnings-growth ratio of 2.98 and a beta of 2.99.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). Trade Desk had a return on equity of 22.86% and a net margin of 15.62%. The company had revenue of $118.80 million during the quarter, compared to the consensus estimate of $117.48 million. During the same quarter last year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, equities research analysts anticipate that Trade Desk will post 1.56 earnings per share for the current year.

In related news, insider David Randall Pickles sold 15,000 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. Following the completion of the transaction, the insider now directly owns 52,712 shares of the company’s stock, valued at approximately $6,365,501.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian John Stempeck sold 21,000 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $122.83, for a total transaction of $2,579,430.00. Following the completion of the transaction, the insider now directly owns 66,020 shares of the company’s stock, valued at $8,109,236.60. The disclosure for this sale can be found here. Insiders sold a total of 118,977 shares of company stock valued at $14,766,661 in the last three months. 23.54% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Curbstone Financial Management Corp boosted its stake in Trade Desk by 3.6% in the 4th quarter. Curbstone Financial Management Corp now owns 5,250 shares of the technology company’s stock worth $492,000 after purchasing an additional 180 shares during the period. Virtu Financial LLC boosted its stake in Trade Desk by 4.7% in the 4th quarter. Virtu Financial LLC now owns 5,961 shares of the technology company’s stock worth $692,000 after purchasing an additional 268 shares during the period. Rehmann Capital Advisory Group boosted its stake in Trade Desk by 792.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 464 shares of the technology company’s stock worth $70,000 after purchasing an additional 412 shares during the period. Meeder Asset Management Inc. boosted its stake in Trade Desk by 26.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,467 shares of the technology company’s stock worth $287,000 after purchasing an additional 521 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its stake in Trade Desk by 13.0% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 5,200 shares of the technology company’s stock worth $785,000 after purchasing an additional 600 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.

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