Trade Desk (TTD) Earns Buy Rating from SunTrust Banks
Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks in a research report issued on Friday. They presently have a $60.00 price objective on the technology company’s stock. SunTrust Banks’ price objective would suggest a potential upside of 22.12% from the company’s current price. SunTrust Banks also issued estimates for Trade Desk’s FY2022 earnings at $4.75 EPS.
A number of other brokerages have also issued reports on TTD. Vetr upgraded shares of Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.76 price target on the stock in a research note on Thursday, November 9th. JMP Securities assumed coverage on shares of Trade Desk in a research note on Monday, October 2nd. They set an “outperform” rating and a $70.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of Trade Desk in a research note on Monday, October 2nd. 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. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 target price (up from $62.00) on shares of Trade Desk in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.79.
Shares of Trade Desk (NASDAQ:TTD) traded up $0.17 during trading hours on Friday, reaching $49.13. 835,900 shares of the company’s stock were exchanged, compared to its average volume of 649,451. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $2,010.98, a price-to-earnings ratio of 48.64, a PEG ratio of 1.32 and a beta of 5.35. Trade Desk has a one year low of $28.11 and a one year high of $67.30.
In related news, insider Brian John Stempeck sold 10,000 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert David Perdue sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $46.37, for a total value of $347,775.00. Following the completion of the transaction, the chief operating officer now directly owns 102,238 shares of the company’s stock, valued at $4,740,776.06. The disclosure for this sale can be found here. Insiders have sold 90,616 shares of company stock worth $4,964,670 over the last 90 days. Insiders own 26.87% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Vanguard Group Inc. boosted its holdings in Trade Desk by 79.9% in the second quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after purchasing an additional 885,916 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Trade Desk by 109.6% in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Trade Desk by 193.5% in the second quarter. Renaissance Technologies LLC now owns 828,300 shares of the technology company’s stock valued at $41,506,000 after purchasing an additional 546,100 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Trade Desk in the third quarter valued at approximately $32,658,000. Finally, Janus Henderson Group PLC acquired a new position in Trade Desk in the second quarter valued at approximately $24,342,000. 65.38% of the stock is owned by hedge funds and other institutional investors.
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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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