Trade Desk (NASDAQ:TTD) Receives “Market Outperform” Rating from JMP Securities

Trade Desk (NASDAQ:TTD)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the technology company’s stock. JMP Securities’ price target would indicate a potential upside of 40.58% from the company’s current price.

Several other research firms also recently issued reports on TTD. Macquarie upped their price target on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Wells Fargo & Company dropped their target price on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of Trade Desk in a research note on Friday, June 6th. Finally, Wedbush reiterated an “outperform” rating and set a $86.00 price target (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.15.

Trade Desk Stock Performance

NASDAQ:TTD traded up $2.26 during trading hours on Tuesday, hitting $71.13. 704,487 shares of the company’s stock traded hands, compared to its average volume of 6,217,878. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a market cap of $34.96 billion, a P/E ratio of 86.45, a P/E/G ratio of 3.13 and a beta of 1.41. The stock’s fifty day moving average price is $65.95 and its two-hundred day moving average price is $83.48.

Trade Desk (NASDAQ:TTD) last issued 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 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the business’s 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 sale, the director now owns 66,985 shares of the company’s stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 of the company’s stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Trade Desk by 13.2% during the 1st quarter. Swedbank AB now owns 417,640 shares of the technology company’s stock worth $22,853,000 after purchasing an additional 48,770 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Trade Desk during the first quarter worth $109,000. Strs Ohio bought a new stake in shares of Trade Desk during the first quarter worth approximately $13,872,000. Wealth Management Associates Inc. grew its position in shares of Trade Desk by 6.6% in the first quarter. Wealth Management Associates Inc. now owns 12,057 shares of the technology company’s stock valued at $660,000 after purchasing an additional 743 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Trade Desk by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 56,413 shares of the technology company’s stock worth $3,087,000 after purchasing an additional 21,199 shares during the period. 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.