Trade Desk (NASDAQ:TTD) Upgraded by Evercore ISI to Outperform Rating

Trade Desk (NASDAQ:TTD) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The firm presently has a $90.00 target price on the technology company’s stock. Evercore ISI’s price target suggests a potential upside of 29.81% from the stock’s current price.

A number of other equities analysts have also commented on the stock. DA Davidson cut their price objective on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Morgan Stanley upped their target price on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Royal Bank Of Canada cut their target price on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Truist Financial upped their target price on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of Trade Desk in a research note on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Trade Desk Price Performance

Shares of TTD stock opened at $69.33 on Friday. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The firm has a market capitalization of $34.07 billion, a P/E ratio of 84.55, a P/E/G ratio of 3.18 and a beta of 1.41. The company’s fifty day moving average price is $67.56 and its two-hundred day moving average price is $82.05.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV bought a new stake in Trade Desk during the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the 4th quarter valued at $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Trade Desk during the 1st quarter valued at $26,000. Cloud Capital Management LLC acquired a new position in shares of Trade Desk during the 1st quarter valued at $27,000. Finally, von Borstel & Associates Inc. acquired a new position in shares of Trade Desk during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.