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

The Trade Desk (NASDAQ:TTD) updated its second quarter 2021 earnings guidance on Tuesday. 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.

Several analysts recently issued reports on the company. Truist upgraded The Trade Desk from a hold rating to a buy rating and cut their price objective for the stock from $880.00 to $620.00 in a report on Tuesday, May 11th. Vertical Research upgraded The Trade Desk from a mixed rating to a positive rating in a report on Wednesday, April 21st. KeyCorp cut their price objective on The Trade Desk from $851.00 to $740.00 and set an overweight rating for the company in a report on Tuesday, May 11th. Needham & Company LLC reiterated a buy rating and set a $1,000.00 price objective on shares of The Trade Desk in a report on Friday, March 26th. Finally, Stifel Nicolaus cut their price objective on The Trade Desk from $700.00 to $650.00 and set a hold rating for the company in a report on Monday, May 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The Trade Desk has a consensus rating of Buy and a consensus target price of $749.14.

Shares of NASDAQ:TTD traded up $4.10 during midday trading on Thursday, hitting $589.40. The company’s stock had a trading volume of 89,532 shares, compared to its average volume of 939,753. The firm has a market capitalization of $28.04 billion, a PE ratio of 120.43, a price-to-earnings-growth ratio of 6.29 and a beta of 2.47. The stock’s 50 day moving average is $630.15. The Trade Desk has a fifty-two week low of $343.04 and a fifty-two week high of $972.80.

The Trade Desk shares are set to split on the morning of Thursday, June 17th. The 10-1 split was announced on Monday, May 10th. The newly minted shares will be distributed 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $1.07. The company had revenue of $219.80 million for the quarter, compared to the consensus estimate of $217.28 million. The Trade Desk had a return on equity of 25.57% and a net margin of 26.91%. The firm’s revenue was up 36.8% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. As a group, research analysts forecast that The Trade Desk will post 3.53 earnings per share for the current fiscal year.

In related news, Director Eric B. Paley sold 750 shares of The Trade Desk stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $600.00, for a total transaction of $450,000.00. Following the sale, the director now directly owns 13,821 shares of the company’s stock, valued at $8,292,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Susan Vobejda sold 14,539 shares of The Trade Desk stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $577.50, for a total value of $8,396,272.50. Following the sale, the chief marketing officer now directly owns 29,001 shares in the company, valued at $16,748,077.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,729 shares of company stock worth $83,940,451. 10.72% of the stock is owned by company 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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