The Trade Desk Inc. (TTD) Coverage Initiated by Analysts at SunTrust Banks, Inc.
Equities researchers at SunTrust Banks, Inc. started coverage on shares of The Trade Desk Inc. (NASDAQ:TTD) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “hold” rating on the technology company’s stock.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Friday, May 19th. Cantor Fitzgerald set a $60.00 price objective on shares of The Trade Desk and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a $57.00 price objective (up from $41.00) on shares of The Trade Desk in a research report on Sunday, May 14th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $60.00 price objective (up from $41.00) on shares of The Trade Desk in a research report on Friday, May 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The Trade Desk currently has a consensus rating of “Buy” and an average target price of $56.11.
Shares of The Trade Desk (NASDAQ TTD) traded down 4.88% during midday trading on Tuesday, reaching $51.02. 2,014,484 shares of the company’s stock were exchanged. The Trade Desk has a 12 month low of $22.00 and a 12 month high of $57.87. The firm has a 50 day moving average price of $52.30 and a 200 day moving average price of $44.25. The company has a market cap of $2.04 billion and a P/E ratio of 47.11.
The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $72.80 million for the quarter, compared to analysts’ expectations of $68.02 million. The firm’s quarterly revenue was up 54.2% on a year-over-year basis. Equities research analysts forecast that The Trade Desk will post $1.40 earnings per share for the current fiscal year.
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In other The Trade Desk news, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $50.05, for a total value of $159,460,150.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Randall Pickles sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $52.74, for a total value of $3,955,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,939,884 shares of company stock valued at $251,064,987. 26.87% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in The Trade Desk by 169.4% in the first quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock worth $1,184,000 after buying an additional 19,992 shares during the period. Wells Fargo & Company MN raised its stake in The Trade Desk by 21.5% in the first quarter. Wells Fargo & Company MN now owns 45,036 shares of the technology company’s stock worth $1,677,000 after buying an additional 7,972 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new stake in The Trade Desk during the first quarter worth $24,823,000. Whittier Trust Co. bought a new stake in The Trade Desk during the first quarter worth $103,000. Finally, Braun Stacey Associates Inc. bought a new stake in The Trade Desk during the first quarter worth $12,127,000. 53.08% of the stock is owned by hedge funds and other institutional investors.
The 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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