Equities Analysts Set Expectations for Trade Desk Inc’s FY2019 Earnings (TTD)

Trade Desk Inc (NASDAQ:TTD) – Research analysts at Jefferies Financial Group lifted their FY2019 earnings estimates for shares of Trade Desk in a note issued to investors on Tuesday, October 16th. Jefferies Financial Group analyst B. Thill now forecasts that the technology company will post earnings of $1.98 per share for the year, up from their prior estimate of $1.82. Jefferies Financial Group has a “Buy” rating and a $150.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the company. Citigroup started coverage on Trade Desk in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $138.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research raised Trade Desk from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, August 24th. BidaskClub raised Trade Desk from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. SunTrust Banks upped their target price on Trade Desk to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price (up previously from $126.00) on shares of Trade Desk in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $118.00.

Shares of NASDAQ TTD opened at $121.30 on Friday. Trade Desk has a 1-year low of $40.70 and a 1-year high of $161.50. The stock has a market capitalization of $5.51 billion, a PE ratio of 101.93, a P/E/G ratio of 4.85 and a beta of 3.06.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 9th. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The company had revenue of $112.30 million during the quarter, compared to the consensus estimate of $103.87 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 54.3% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in Trade Desk during the second quarter valued at approximately $147,000. Mount Yale Investment Advisors LLC raised its stake in Trade Desk by 235.7% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,655 shares of the technology company’s stock valued at $155,000 after buying an additional 1,162 shares in the last quarter. Iron Financial LLC acquired a new stake in Trade Desk during the third quarter valued at approximately $261,000. Strs Ohio acquired a new stake in Trade Desk during the second quarter valued at approximately $187,000. Finally, CAPROCK Group Inc. acquired a new stake in Trade Desk during the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 71.68% of the company’s stock.

In related news, insider Brian John Stempeck sold 20,332 shares of the business’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $94.87, for a total value of $1,928,896.84. Following the transaction, the insider now owns 65,352 shares in the company, valued at $6,199,944.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Ross sold 3,682 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $128.50, for a total value of $473,137.00. Following the completion of the transaction, the chief financial officer now owns 43,413 shares in the company, valued at approximately $5,578,570.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 669,403 shares of company stock worth $88,972,839. Insiders own 26.87% of the company’s stock.

About Trade Desk

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.

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