Trade Desk (NASDAQ:TTD) Earns Overweight Rating from Analysts at Wells Fargo & Company

by · The Markets Daily

Equities researchers at Wells Fargo & Company started coverage on shares of Trade Desk (NASDAQ:TTD – Get Free Report) in a research report issued on Monday, Benzinga reports. The brokerage set an “overweight” rating and a $150.00 price target on the technology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.07% from the company’s current price.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Monday, October 7th. Loop Capital upped their target price on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Macquarie boosted their price target on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. KeyCorp lifted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $115.66.

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Trade Desk Stock Performance

Shares of TTD traded down $0.49 during midday trading on Monday, hitting $118.98. 3,062,215 shares of the stock were exchanged, compared to its average volume of 3,771,542. The firm has a market cap of $58.20 billion, a P/E ratio of 297.45, a P/E/G ratio of 5.75 and a beta of 1.48. Trade Desk has a 52-week low of $60.23 and a 52-week high of $121.44. The stock has a fifty day simple moving average of $109.08 and a 200 day simple moving average of $98.42.

Trade Desk (NASDAQ:TTD – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts forecast that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock worth $170,121,565 over the last ninety days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC raised its holdings in Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after buying an additional 4,296 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after acquiring an additional 70,201 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Trade Desk during the 1st quarter worth $1,034,000. Sei Investments Co. increased its holdings in Trade Desk by 16.3% in the 1st quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock valued at $21,521,000 after purchasing an additional 34,520 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Trade Desk by 5.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock valued at $9,179,000 after purchasing an additional 5,148 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

(Get Free Report)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.

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