Susquehanna Bancshares Inc reaffirmed their positive rating on shares of The Trade Desk Inc. (NASDAQ:TTD) in a report published on Monday morning. The brokerage currently has a $66.00 price objective on the technology company’s stock, up from their previous price objective of $60.00.
Other analysts have also recently issued research reports about the company. Citigroup Inc. reiterated a buy rating and set a $55.00 target price (up previously from $39.00) on shares of The Trade Desk in a report on Monday, May 15th. Jefferies Group LLC reiterated a buy rating and set a $60.00 target price (up previously from $57.00) on shares of The Trade Desk in a report on Friday. Royal Bank Of Canada reiterated an outperform rating and set a $65.00 target price (up previously from $56.00) on shares of The Trade Desk in a report on Friday. Cantor Fitzgerald set a $60.00 target price on The Trade Desk and gave the stock a buy rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut The Trade Desk from a buy rating to a hold rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $56.11.
Shares of The Trade Desk (TTD) opened at 52.4327 on Monday. The firm has a market cap of $2.10 billion and a PE ratio of 48.4143. The stock’s 50 day moving average is $52.36 and its 200 day moving average is $44.10. The Trade Desk has a 12 month low of $22.00 and a 12 month high of $57.87.
The Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.29. The Trade Desk had a return on equity of 27.88% and a net margin of 13.92%. The business had revenue of $72.80 million during the quarter, compared to analysts’ expectations of $68.02 million. The company’s revenue was up 54.2% compared to the same quarter last year. On average, analysts anticipate that The Trade Desk will post $1.40 earnings per share for the current fiscal year.
In related news, insider Jeffrey Terry Green sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $53.84, for a total transaction of $484,560.00. Following the transaction, the insider now directly owns 130,885 shares of the company’s stock, valued at approximately $7,046,848.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn E. Falberg purchased 20,000 shares of The Trade Desk stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $48.06 per share, for a total transaction of $961,200.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,922,400. The disclosure for this purchase can be found here. Insiders have sold a total of 4,929,884 shares of company stock worth $250,523,387 over the last three months. 26.87% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TTD. JPMorgan Chase & Co. raised its position in The Trade Desk by 33.5% in the first quarter. JPMorgan Chase & Co. now owns 709,520 shares of the technology company’s stock valued at $26,431,000 after buying an additional 178,016 shares during the period. State Street Corp bought a new position in The Trade Desk during the fourth quarter valued at approximately $1,581,000. Frontier Capital Management Co. LLC bought a new position in The Trade Desk during the first quarter valued at approximately $14,820,000. Cipher Capital LP bought a new position in The Trade Desk during the first quarter valued at approximately $398,000. Finally, American International Group Inc. bought a new position in The Trade Desk during the first quarter valued at approximately $126,000. 53.08% of the stock is currently owned by hedge funds and other institutional investors.
About The Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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