The Trade Desk (NASDAQ:TTD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Trade Desk (NASDAQ:TTD) have been given an average rating of “Moderate Buy” by the thirty-two brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $97.15.

TTD has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. HSBC set a $75.00 price target on shares of Trade Desk and gave the company a “buy” rating in a report on Wednesday, April 23rd. Citizens Jmp cut their price target on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Oppenheimer raised their price target on shares of Trade Desk from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Finally, Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Trade Desk Stock Down 0.6%

TTD opened at $68.23 on Friday. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 83.21, a PEG ratio of 3.13 and a beta of 1.41. The firm has a 50-day moving average price of $65.54 and a 200-day moving average price of $84.33. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, sell-side analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

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

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after acquiring an additional 1,567,491 shares in the last quarter. Brown Advisory Inc. boosted its stake in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock worth $443,358,000 after acquiring an additional 5,387,339 shares in the last quarter. Invesco Ltd. boosted its stake in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after acquiring an additional 198,822 shares in the last quarter. Norges Bank bought a new stake in Trade Desk during the fourth quarter worth about $524,187,000. Finally, FMR LLC lifted its stake in shares of Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.