Wedbush Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective hoisted by equities research analysts at Wedbush from $115.00 to $135.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s price objective suggests a potential upside of 11.88% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Benchmark restated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research report on Friday. Wells Fargo & Company assumed coverage on Trade Desk in a report on Monday, October 28th. They set an “overweight” rating and a $150.00 price objective on the stock. StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $110.00) on shares of Trade Desk in a research report on Friday. Finally, Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.93.

Trade Desk Stock Performance

TTD traded down $11.87 on Friday, reaching $120.66. The company had a trading volume of 5,650,239 shares, compared to its average volume of 3,781,678. Trade Desk has a 52-week low of $60.23 and a 52-week high of $132.65. The company has a market cap of $59.31 billion, a price-to-earnings ratio of 240.60, a P/E/G ratio of 6.00 and a beta of 1.47. The business has a 50 day simple moving average of $112.41 and a 200 day simple moving average of $100.68.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter last year, the company posted $0.07 EPS. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its stake in Trade Desk by 59.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 88,836 shares of the technology company’s stock valued at $7,766,000 after buying an additional 33,049 shares during the last quarter. Quantbot Technologies LP boosted its stake in Trade Desk by 299.3% in the 1st quarter. Quantbot Technologies LP now owns 27,792 shares of the technology company’s stock worth $2,430,000 after purchasing an additional 20,831 shares in the last quarter. Empowered Funds LLC boosted its stake in Trade Desk by 15.3% in the 1st quarter. Empowered Funds LLC now owns 12,400 shares of the technology company’s stock worth $1,084,000 after purchasing an additional 1,643 shares in the last quarter. SG Americas Securities LLC grew its position in Trade Desk by 149.6% during the 1st quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company’s stock valued at $1,748,000 after purchasing an additional 11,981 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in Trade Desk by 10.2% during the 1st quarter. Forsta AP Fonden now owns 91,900 shares of the technology company’s stock valued at $8,034,000 after purchasing an additional 8,500 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.