Zacks Investment Research upgraded shares of Trade Desk (NASDAQ:TTD) from a sell rating to a hold rating in a research report report published on Friday, November 17th.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a buy rating and set a $62.00 price target (up previously from $56.00) on shares of Trade Desk in a research note on Friday, August 11th. Jefferies Group restated a buy rating and issued a $60.00 target price (up previously from $57.00) on shares of Trade Desk in a research note on Friday, August 11th. Susquehanna Bancshares reiterated a positive rating and issued a $66.00 price target (up previously from $60.00) on shares of Trade Desk in a report on Monday, August 14th. Vetr downgraded shares of Trade Desk from a strong-buy rating to a buy rating and set a $71.92 price target for the company. in a report on Tuesday, October 31st. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $62.00 price target on shares of Trade Desk in a report on Friday, September 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $67.07.
Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, November 9th. The technology company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.15. The firm had revenue of $79.40 million for the quarter, compared to the consensus estimate of $76.84 million. Trade Desk had a net margin of 15.93% and a return on equity of 24.34%. The company’s revenue was up 49.8% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. equities research analysts anticipate that Trade Desk will post 1.29 earnings per share for the current year.
In other Trade Desk news, insider Brian John Stempeck sold 10,000 shares of Trade Desk stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.78, for a total transaction of $487,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Randall Pickles sold 70,000 shares of Trade Desk stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $60.89, for a total transaction of $4,262,300.00. Following the transaction, the insider now directly owns 56,499 shares in the company, valued at $3,440,224.11. The disclosure for this sale can be found here. Insiders sold 144,394 shares of company stock worth $8,819,977 over the last three months. Corporate insiders own 26.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AHL Partners LLP acquired a new position in shares of Trade Desk during the second quarter worth $373,000. Quantum Capital Management LLC NJ acquired a new position in shares of Trade Desk during the second quarter worth $3,787,000. American International Group Inc. acquired a new position in shares of Trade Desk during the first quarter worth $126,000. Deane Retirement Strategies Inc. acquired a new position in shares of Trade Desk during the third quarter worth $2,032,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Trade Desk in the second quarter worth $1,252,000. 65.46% of the stock is currently owned by institutional investors and hedge funds.
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About 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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