Trade Desk (TTD) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a report released on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $60.00 price target on the technology company’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 20.99% from the company’s current price.

TTD has been the subject of a number of other research reports. Royal Bank of Canada raised their target price on shares of Trade Desk from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Jefferies Group restated a “buy” rating and set a $63.00 target price on shares of Trade Desk in a research note on Friday, November 10th. Macquarie initiated coverage on shares of Trade Desk in a research note on Thursday, October 12th. They set an “outperform” rating and a $78.00 target price for the company. Vetr cut shares of Trade Desk from a “strong-buy” rating to a “buy” rating and set a $71.92 target price for the company. in a research note on Tuesday, October 31st. Finally, BidaskClub cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $66.48.

Shares of Trade Desk (TTD) traded up $0.65 during mid-day trading on Wednesday, reaching $49.59. 551,874 shares of the company’s stock were exchanged, compared to its average volume of 1,540,000. The firm has a market capitalization of $2,040.00 and a PE ratio of 47.88. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Trade Desk has a 12-month low of $26.40 and a 12-month high of $67.30.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. The company had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $76.84 million. Trade Desk had a net margin of 15.93% and a return on equity of 24.34%. Trade Desk’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. research analysts expect that Trade Desk will post 1.28 EPS for the current fiscal year.

In other Trade Desk news, CEO Jeffrey Terry Green sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.26, for a total value of $596,340.00. Following the transaction, the chief executive officer now directly owns 99,400 shares of the company’s stock, valued at approximately $6,586,244. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert David Perdue sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $48.08, for a total transaction of $360,600.00. Following the completion of the transaction, the chief operating officer now directly owns 97,983 shares in the company, valued at $4,711,022.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,305 shares of company stock worth $5,735,480. Insiders own 26.87% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in shares of Trade Desk by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,003,888 shares of the technology company’s stock valued at $100,415,000 after purchasing an additional 122,774 shares during the last quarter. Vanguard Group Inc. boosted its position in Trade Desk by 79.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock worth $99,976,000 after buying an additional 885,916 shares during the period. FMR LLC boosted its position in Trade Desk by 12.7% during the 2nd quarter. FMR LLC now owns 1,575,792 shares of the technology company’s stock worth $78,963,000 after buying an additional 178,092 shares during the period. Lord Abbett & CO. LLC boosted its position in Trade Desk by 109.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock worth $71,771,000 after buying an additional 748,795 shares during the period. Finally, Williams Jones & Associates LLC boosted its position in Trade Desk by 12.3% during the 2nd quarter. Williams Jones & Associates LLC now owns 984,925 shares of the technology company’s stock worth $49,355,000 after buying an additional 108,236 shares during the period. 65.38% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This article was first reported by American Market News and is owned by of American Market News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/20/trade-desk-ttd-coverage-initiated-at-wells-fargo-company.html.

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.