Trade Desk (NASDAQ:TTD) had its target price increased by stock analysts at Citigroup from $69.00 to $76.00 in a note issued to investors on Friday, March 9th. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target would indicate a potential upside of 58.30% from the company’s previous close.
TTD has been the subject of several other research reports. Vetr raised Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.76 price target for the company in a report on Thursday, November 9th. Wells Fargo reissued a “buy” rating and issued a $62.00 price target on shares of Trade Desk in a report on Friday, February 23rd. Stifel Nicolaus set a $69.00 price target on Trade Desk and gave the stock a “buy” rating in a report on Friday, February 23rd. Jefferies Group reissued a “buy” rating and issued a $63.00 price target on shares of Trade Desk in a report on Friday, November 10th. Finally, BidaskClub downgraded Trade Desk from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Trade Desk currently has a consensus rating of “Buy” and a consensus price target of $66.38.
TTD traded down $1.61 on Friday, hitting $48.01. The company had a trading volume of 860,760 shares, compared to its average volume of 983,161. Trade Desk has a 12-month low of $35.04 and a 12-month high of $67.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $2,076.60, a PE ratio of 40.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.93.
Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. Trade Desk had a return on equity of 25.10% and a net margin of 16.48%. The company had revenue of $102.60 million for the quarter, compared to analyst estimates of $101.71 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. sell-side analysts expect that Trade Desk will post 1.18 EPS for the current year.
In related news, CFO Paul Ross sold 8,682 shares of Trade Desk stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $56.18, for a total transaction of $487,754.76. Following the completion of the sale, the chief financial officer now owns 67,473 shares of the company’s stock, valued at $3,790,633.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian John Stempeck sold 22,500 shares of Trade Desk stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $55.33, for a total value of $1,244,925.00. Following the sale, the insider now directly owns 67,050 shares of the company’s stock, valued at approximately $3,709,876.50. The disclosure for this sale can be found here. Insiders have sold 805,206 shares of company stock valued at $46,037,061 in the last ninety days. Corporate insiders own 23.54% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TTD. Benjamin F. Edwards & Company Inc. raised its position in Trade Desk by 129.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,750 shares of the technology company’s stock valued at $126,000 after acquiring an additional 1,550 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Trade Desk by 57.7% during the third quarter. Great West Life Assurance Co. Can now owns 2,838 shares of the technology company’s stock valued at $165,000 after acquiring an additional 1,038 shares in the last quarter. SG Americas Securities LLC purchased a new position in Trade Desk during the fourth quarter valued at approximately $169,000. Circle Wealth Management LLC purchased a new position in Trade Desk during the fourth quarter valued at approximately $202,000. Finally, Crow Point Partners LLC purchased a new position in Trade Desk during the fourth quarter valued at approximately $214,000. Institutional investors own 72.89% of the company’s stock.
About 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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