Trade Desk (NASDAQ:TTD) Price Target Raised to $92.00 at Macquarie

Trade Desk (NASDAQ:TTD) had its price objective boosted by Macquarie from $90.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Macquarie’s target price indicates a potential upside of 19.99% from the company’s current price.

Other analysts also recently issued reports about the company. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Loop Capital dropped their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. KeyCorp raised their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Rosenblatt Securities assumed coverage on shares of Trade Desk in a research note on Tuesday, April 29th. They set a “buy” rating and a $77.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.12.

Trade Desk Price Performance

NASDAQ TTD traded up $0.36 during trading hours on Monday, reaching $76.67. The company’s stock had a trading volume of 1,425,612 shares, compared to its average volume of 5,926,317. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The firm has a market capitalization of $38.04 billion, a price-to-earnings ratio of 98.27, a P/E/G ratio of 3.11 and a beta of 1.29. The company’s 50-day moving average is $56.12 and its two-hundred day moving average is $93.51.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. Equities analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of TTD. Assenagon Asset Management S.A. increased its holdings in Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Trade Desk by 32.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company’s stock worth $341,000 after buying an additional 706 shares during the period. Avanza Fonder AB acquired a new position in Trade Desk during the 4th quarter valued at about $1,117,000. Merit Financial Group LLC grew its holdings in Trade Desk by 16.8% in the 4th quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company’s stock worth $807,000 after buying an additional 989 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of Trade Desk by 37.3% during the fourth quarter. Arkadios Wealth Advisors now owns 3,778 shares of the technology company’s stock valued at $444,000 after purchasing an additional 1,027 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.