Stifel Nicolaus Reiterates Buy Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $111.00 price target on the technology company’s stock, up from their previous price target of $105.00. Stifel Nicolaus’ price objective points to a potential upside of 11.78% from the stock’s previous close.

Several other equities analysts have also commented on the stock. KeyCorp raised their target price on shares of Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday. Macquarie lifted their price target on shares of Trade Desk from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price target on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Citigroup lifted their price target on shares of Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.51.

Trade Desk Trading Up 12.5 %

TTD stock traded up $11.03 during mid-day trading on Friday, hitting $99.30. The stock had a trading volume of 13,299,325 shares, compared to its average volume of 4,207,968. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67. The firm has a market capitalization of $48.57 billion, a P/E ratio of 248.26, a P/E/G ratio of 4.34 and a beta of 1.48. The firm has a fifty day simple moving average of $95.34 and a 200 day simple moving average of $87.40.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, equities analysts expect that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now directly owns 32,701 shares in the company, valued at $3,216,797.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,909 shares of company stock valued at $20,827,601. 10.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Apella Capital LLC boosted its stake in Trade Desk by 1.9% during the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after acquiring an additional 100 shares in the last quarter. Wealth Alliance raised its holdings in Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock worth $1,810,000 after buying an additional 106 shares during the last quarter. RFP Financial Group LLC raised its holdings in Trade Desk by 26.4% during the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after buying an additional 116 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Trade Desk by 2.0% during the second quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company’s stock worth $612,000 after buying an additional 125 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after buying an additional 127 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

About Trade Desk

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.