The Trade Desk Inc. (NASDAQ:TTD) Expected to Post Earnings of $0.15 Per Share
Wall Street analysts expect that The Trade Desk Inc. (NASDAQ:TTD) will post earnings of $0.15 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for The Trade Desk’s earnings. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, August 10th.
According to Zacks, analysts expect that The Trade Desk will report full-year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.88 to $0.93. For the next financial year, analysts forecast that the company will post earnings of $1.05 per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for The Trade Desk.
The Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.17. The company had revenue of $53.40 million during the quarter, compared to analyst estimates of $43.30 million. The Trade Desk’s revenue was up 75.7% compared to the same quarter last year.
Several research analysts have weighed in on TTD shares. Zacks Investment Research upgraded The Trade Desk from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, June 6th. Citigroup Inc. reiterated a “buy” rating and issued a $55.00 target price (up from $39.00) on shares of The Trade Desk in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 target price (up from $41.00) on shares of The Trade Desk in a research note on Sunday, May 14th. Needham & Company LLC lifted their target price on The Trade Desk from $48.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Finally, Cantor Fitzgerald set a $60.00 target price on The Trade Desk and gave the company a “buy” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $52.67.
In related news, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $50.05, for a total value of $159,460,150.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric B. Paley sold 1,130,435 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $52.00, for a total value of $58,782,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,939,884 shares of company stock worth $251,049,487. Company insiders own 26.87% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in The Trade Desk during the first quarter worth $103,000. Nationwide Fund Advisors increased its stake 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 worth $105,000 after buying an additional 1,824 shares during the period. BNP Paribas Arbitrage SA increased its stake in The Trade Desk by 665.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the technology company’s stock worth $117,000 after buying an additional 2,029 shares during the period. Strs Ohio increased its stake in The Trade Desk by 100.0% in the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock worth $126,000 after buying an additional 1,700 shares during the period. Finally, American International Group Inc. acquired a new stake in The Trade Desk during the first quarter worth $126,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.
Shares of The Trade Desk (NASDAQ TTD) traded down 2.00% on Tuesday, reaching $53.39. The company’s stock had a trading volume of 401,412 shares. The stock has a 50-day moving average price of $51.69 and a 200-day moving average price of $42.63. The Trade Desk has a 1-year low of $22.00 and a 1-year high of $57.87. The company has a market capitalization of $1.23 billion and a price-to-earnings ratio of 17.22.
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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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