Trade Desk Inc (TTD) Upgraded by Zacks Investment Research to “Buy”
Trade Desk Inc (NASDAQ:TTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $53.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 5.85% from the stock’s previous close.
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. “
Several other equities research analysts have also recently commented on the stock. Citigroup Inc reissued a “buy” rating and set a $55.00 price target (up from $39.00) on shares of Trade Desk in a research report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and set a $57.00 price target (up from $41.00) on shares of Trade Desk in a research report on Sunday, May 14th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $60.00 price target (up from $41.00) on shares of Trade Desk in a research report on Friday, May 12th. Royal Bank of Canada boosted their price target on shares of Trade Desk from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, May 12th. Finally, Needham & Company LLC boosted their price target on shares of Trade Desk from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Nine research analysts have rated the stock with a buy rating, Trade Desk currently has an average rating of “Buy” and an average target price of $51.56.
Trade Desk (NASDAQ:TTD) opened at 50.07 on Friday. The firm has a market capitalization of $2.00 billion and a P/E ratio of 50.22. The firm’s 50-day moving average is $39.90 and its 200 day moving average is $33.51. Trade Desk has a 52-week low of $22.00 and a 52-week high of $54.50.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.01 by $0.17. The business had revenue of $53.40 million for the quarter, compared to the consensus estimate of $43.30 million. Trade Desk’s revenue was up 75.7% on a year-over-year basis. Equities analysts anticipate that Trade Desk will post $1.08 EPS for the current year.
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In related news, major shareholder Founder Collective Gp, Llc sold 2,154,790 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $35.50, for a total value of $76,495,045.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert David Perdue sold 5,000 shares of the company’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $36.05, for a total transaction of $180,250.00. Following the completion of the transaction, the chief operating officer now owns 82,566 shares in the company, valued at approximately $2,976,504.30. The disclosure for this sale can be found here. Insiders have sold a total of 6,049,629 shares of company stock worth $217,136,532 over the last 90 days.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Trade Desk during the third quarter worth approximately $446,000. Monashee Investment Management LLC acquired a new stake in Trade Desk during the third quarter worth about $847,000. Citadel Advisors LLC acquired a new stake in Trade Desk during the third quarter worth about $1,690,000. Jabre Capital Partners S.A. acquired a new stake in Trade Desk during the third quarter worth about $584,000. Finally, HBK Investments L P acquired a new stake in Trade Desk during the third quarter worth about $1,461,000. Institutional investors and hedge funds own 53.22% of the company’s stock.
Trade Desk Company Profile
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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