The Trade Desk Inc. (TTD) Stock Rating Reaffirmed by Susquehanna Bancshares Inc
The Trade Desk Inc. (NASDAQ:TTD)‘s stock had its “positive” rating restated by equities researchers at Susquehanna Bancshares Inc in a research note issued to investors on Wednesday. They presently have a $66.00 target price on the technology company’s stock. Susquehanna Bancshares Inc’s price objective indicates a potential upside of 9.04% from the stock’s current price.
A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of The Trade Desk from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, June 21st. Cantor Fitzgerald set a $60.00 price objective on shares of The Trade Desk and gave the company a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and set a $57.00 price objective on shares of The Trade Desk in a research report on Friday, June 23rd. BidaskClub upgraded shares of The Trade Desk from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Finally, SunTrust Banks, Inc. started coverage on shares of The Trade Desk in a report on Tuesday, August 15th. They issued a “hold” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.27.
The Trade Desk (NASDAQ:TTD) traded down 0.51% on Wednesday, hitting $60.22. 378,050 shares of the stock were exchanged. The stock has a market cap of $2.46 billion and a price-to-earnings ratio of 55.60. The Trade Desk has a 12 month low of $22.01 and a 12 month high of $62.86. The company has a 50-day moving average of $59.59 and a 200-day moving average of $59.59.
The Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The business had revenue of $72.80 million during the quarter, compared to analyst estimates of $68.02 million. The business’s revenue for the quarter was up 54.2% on a year-over-year basis. On average, equities analysts predict that The Trade Desk will post $1.43 EPS for the current year.
In related news, COO Robert David Perdue sold 12,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $53.34, for a total value of $666,750.00. Following the transaction, the chief operating officer now directly owns 89,766 shares of the company’s stock, valued at approximately $4,788,118.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Randall Pickles sold 75,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $55.60, for a total value of $4,170,000.00. Following the completion of the transaction, the insider now directly owns 240,517 shares in the company, valued at $13,372,745.20. The disclosure for this sale can be found here. In the last three months, insiders sold 299,015 shares of company stock worth $16,471,515. 26.87% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Lord Abbett & CO. LLC grew its holdings in The Trade Desk by 109.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after purchasing an additional 748,795 shares during the period. Ashford Capital Management Inc. increased its position in The Trade Desk by 111.1% in the second quarter. Ashford Capital Management Inc. now owns 249,945 shares of the technology company’s stock worth $12,525,000 after buying an additional 131,545 shares in the last quarter. Cetera Investment Advisers purchased a new stake in The Trade Desk in the second quarter worth about $800,000. California State Teachers Retirement System increased its position in The Trade Desk by 181.7% in the second quarter. California State Teachers Retirement System now owns 30,700 shares of the technology company’s stock worth $1,538,000 after buying an additional 19,800 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in The Trade Desk by 55.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 34,528 shares of the technology company’s stock worth $1,730,000 after buying an additional 12,247 shares in the last quarter. Institutional investors own 62.80% of the company’s stock.
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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