The Trade Desk (NASDAQ:TTD) Updates Q2 2021 Earnings Guidance

The Trade Desk (NASDAQ:TTD) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $259 million-262 million, compared to the consensus revenue estimate of $253.92 million.

Shares of TTD traded up $5.30 on Thursday, reaching $590.60. The company’s stock had a trading volume of 88,148 shares, compared to its average volume of 939,753. The Trade Desk has a 12-month low of $343.04 and a 12-month high of $972.80. The stock has a market capitalization of $28.10 billion, a PE ratio of 120.43, a P/E/G ratio of 6.29 and a beta of 2.47. The company’s 50 day moving average price is $630.15.

The Trade Desk shares are going to split before the market opens on Thursday, June 17th. The 10-1 split was announced on Monday, May 10th. The newly created shares will be issued to shareholders after the market closes on Wednesday, June 16th.

The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Monday, May 10th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $1.07. The Trade Desk had a net margin of 26.91% and a return on equity of 25.57%. The business had revenue of $219.80 million for the quarter, compared to the consensus estimate of $217.28 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. On average, equities analysts forecast that The Trade Desk will post 3.53 earnings per share for the current year.

TTD has been the topic of several recent analyst reports. Truist upgraded shares of The Trade Desk from a hold rating to a buy rating and reduced their price objective for the company from $880.00 to $620.00 in a research report on Tuesday, May 11th. Citigroup lifted their price objective on shares of The Trade Desk from $760.00 to $925.00 in a research report on Friday, February 19th. Wells Fargo & Company reduced their price target on shares of The Trade Desk from $1,000.00 to $750.00 and set a buy rating on the stock in a research report on Tuesday, May 11th. Evercore ISI started coverage on shares of The Trade Desk in a research report on Monday, April 5th. They set an outperform rating and a $770.00 price objective on the stock. Finally, KeyCorp lowered their target price on shares of The Trade Desk from $851.00 to $740.00 and set an overweight rating for the company in a research note on Tuesday, May 11th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $749.14.

In other news, CEO Jeffrey Terry Green sold 42,052 shares of the company’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $769.23, for a total transaction of $32,347,659.96. Following the transaction, the chief executive officer now owns 71,870 shares in the company, valued at $55,284,560.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 804 shares of the company’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $507.20, for a total transaction of $407,788.80. Following the transaction, the chief financial officer now owns 21,319 shares in the company, valued at approximately $10,812,996.80. The disclosure for this sale can be found here. Insiders sold 120,729 shares of company stock valued at $83,940,451 over the last quarter. 10.72% of the stock is currently owned by corporate insiders.

The Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns in various ad formats and channels, including display, video, audio, in-app, native and social, and on various devices, such as computers, mobile devices, and connected TV.

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