The Trade Desk Inc. (TTD) Rating Lowered to Hold at Zacks Investment Research
The Trade Desk Inc. (NASDAQ:TTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
TTD has been the topic of a number of other reports. Jefferies Group LLC restated a “buy” rating and set a $57.00 price target (up from $41.00) on shares of The Trade Desk in a research report on Sunday, May 14th. Citigroup Inc. restated a “buy” rating and set a $55.00 price target (up from $39.00) on shares of The Trade Desk in a research report on Monday, May 15th. Cantor Fitzgerald upgraded shares of The Trade Desk from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $56.00 in a research report on Friday, May 12th. Needham & Company LLC boosted their price target on shares of The Trade Desk from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Finally, Vetr upgraded shares of The Trade Desk from a “sell” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, March 30th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $52.78.
Shares of The Trade Desk (TTD) traded down 3.40% during trading on Tuesday, hitting $50.30. 264,046 shares of the company’s stock were exchanged. The company has a 50-day moving average of $49.05 and a 200-day moving average of $37.58. The company has a market cap of $2.01 billion and a P/E ratio of 50.45. The Trade Desk has a 12-month low of $22.00 and a 12-month high of $57.57.
The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.17. The business had revenue of $53.40 million for the quarter, compared to analyst estimates of $43.30 million. The business’s revenue was up 75.7% compared to the same quarter last year. On average, equities analysts expect that The Trade Desk will post $1.08 earnings per share for the current fiscal year.
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In other The Trade Desk news, CFO Paul Ross sold 71,400 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $55.87, for a total value of $3,989,118.00. Following the transaction, the chief financial officer now directly owns 83,854 shares in the company, valued at approximately $4,684,922.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert David Perdue sold 5,000 shares of the business’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $36.05, for a total transaction of $180,250.00. Following the completion of the transaction, the chief operating officer now owns 82,566 shares in the company, valued at $2,976,504.30. The disclosure for this sale can be found here. Insiders sold a total of 6,197,009 shares of company stock worth $293,631,726 over the last quarter.
Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. purchased a new position in The Trade Desk during the first quarter valued at $103,000. Nationwide Fund Advisors raised its position in The Trade Desk by 181.5% in 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 last quarter. Pacad Investment Ltd. purchased a new position in The Trade Desk during the fourth quarter valued at $113,000. Strs Ohio raised its position in The Trade Desk by 100.0% in the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock valued at $126,000 after buying an additional 1,700 shares during the last quarter. Finally, American International Group Inc. purchased a new position in The Trade Desk during the first quarter valued at $126,000. Institutional investors own 52.45% 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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