The Trade Desk Inc. (TTD) Rating Increased to Strong-Buy at Vetr Inc.
The Trade Desk Inc. (NASDAQ:TTD) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $71.92 target price on the technology company’s stock. Vetr‘s price objective indicates a potential upside of 12.57% from the company’s previous close.
Several other brokerages have also weighed in on TTD. Macquarie assumed coverage on The Trade Desk in a research note on Thursday, October 12th. They issued an “outperform” rating and a $78.00 target price for the company. Zacks Investment Research downgraded The Trade Desk from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 target price on shares of The Trade Desk in a research note on Monday, October 2nd. JMP Securities assumed coverage on The Trade Desk in a research note on Monday, October 2nd. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $67.00 target price (up previously from $62.00) on shares of The Trade Desk in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The Trade Desk currently has a consensus rating of “Buy” and an average price target of $63.66.
Shares of The Trade Desk (NASDAQ:TTD) traded down 0.99% during trading on Tuesday, reaching $63.89. 493,376 shares of the company were exchanged. The company has a market capitalization of $2.61 billion and a PE ratio of 58.99. The Trade Desk has a one year low of $22.00 and a one year high of $67.30. The firm’s 50 day moving average price is $60.93 and its 200 day moving average price is $60.93.
The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $72.80 million during the quarter, compared to analyst estimates 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 $1.43 earnings per share for the current fiscal year.
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In other The Trade Desk news, insider Jeffrey Terry Green sold 9,000 shares of The Trade Desk stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $53.84, for a total value of $484,560.00. Following the transaction, the insider now directly owns 130,885 shares of the company’s stock, valued at approximately $7,046,848.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian John Stempeck sold 10,000 shares of The Trade Desk stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $64.18, for a total value of $641,800.00. The disclosure for this sale can be found here. Insiders sold a total of 316,704 shares of company stock valued at $17,686,464 in the last 90 days. 26.87% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of TTD. Teachers Advisors LLC purchased a new position in shares of The Trade Desk during the fourth quarter valued at approximately $235,000. Nationwide Fund Advisors increased its stake in shares of The Trade Desk by 181.5% during the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after buying an additional 1,824 shares during the period. Wells Fargo & Company MN increased its stake in shares of The Trade Desk by 21.5% during the first quarter. Wells Fargo & Company MN now owns 45,036 shares of the technology company’s stock valued at $1,677,000 after buying an additional 7,972 shares during the period. Bank of New York Mellon Corp increased its stake in shares of The Trade Desk by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock valued at $1,184,000 after buying an additional 19,992 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of The Trade Desk during the first quarter valued at approximately $952,000. 62.80% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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