Trade Desk (NASDAQ:TTD) Price Target Increased to $140.00 by Analysts at Citigroup

by · The Markets Daily

Trade Desk (NASDAQ:TTD – Get Free Report) had its target price hoisted by investment analysts at Citigroup from $115.00 to $140.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 18.98% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Oppenheimer upped their price objective on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Needham & Company LLC increased their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Macquarie upped their target price on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.97.

Get Our Latest Stock Analysis on Trade Desk

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $0.01 during trading on Wednesday, hitting $117.67. 727,505 shares of the company were exchanged, compared to its average volume of 3,826,937. Trade Desk has a 52-week low of $60.23 and a 52-week high of $118.82. The stock has a 50 day moving average of $104.87 and a 200 day moving average of $96.41. The company has a market cap of $57.84 billion, a PE ratio of 235.38, a P/E/G ratio of 5.57 and a beta of 1.48.

Trade Desk (NASDAQ:TTD – Get Free Report) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. Trade Desk’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. Sell-side analysts forecast that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,557,897 shares of company stock valued at $170,095,115. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. grew its holdings in shares of Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after buying an additional 163 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk in the first quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Trade Desk in the second quarter worth about $30,000. EdgeRock Capital LLC acquired a new stake in shares of Trade Desk during the second quarter worth about $37,000. Finally, Quarry LP acquired a new position in Trade Desk in the 2nd quarter worth approximately $41,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

(Get Free Report)

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.

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