Citigroup Inc. Reaffirms “Buy” Rating for The Trade Desk Inc. (TTD)
The Trade Desk Inc. (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. They currently have a $60.00 target price on the technology company’s stock, up from their previous target price of $55.00. Citigroup Inc.’s price objective suggests a potential upside of 10.19% from the stock’s previous close.
A number of other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Friday, May 19th. Royal Bank Of Canada restated a “buy” rating on shares of The Trade Desk in a research report on Wednesday, August 2nd. 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. Finally, 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.11.
Shares of The Trade Desk (NASDAQ:TTD) traded up 0.652% during trading on Friday, hitting $54.805. 380,739 shares of the company were exchanged. The company’s 50-day moving average price is $52.38 and its 200 day moving average price is $43.74. The Trade Desk has a 12 month low of $22.00 and a 12 month high of $57.87. The stock has a market cap of $2.19 billion and a P/E ratio of 50.605.
The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The firm had revenue of $72.80 million for the quarter, compared to the consensus estimate of $68.02 million. The Trade Desk had a net margin of 13.92% and a return on equity of 27.88%. The firm’s quarterly revenue was up 54.2% on a year-over-year basis. On average, equities analysts predict that The Trade Desk will post $1.40 earnings per share for the current fiscal year.
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In related news, CEO Jeffrey Terry Green sold 4,515 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $53.69, for a total value of $242,410.35. Following the sale, the chief executive officer now directly owns 130,885 shares in the company, valued at approximately $7,027,215.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $50.05, for a total transaction of $159,460,150.85. The disclosure for this sale can be found here. Insiders have sold a total of 4,939,884 shares of company stock worth $251,049,487 over the last 90 days. 26.87% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in The Trade Desk by 9,856.5% in the second quarter. Advisor Group Inc. now owns 2,290 shares of the technology company’s stock worth $115,000 after buying an additional 2,267 shares during the last quarter. 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 last quarter. Whittier Trust Co. acquired a new stake in The Trade Desk during the first quarter worth approximately $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 last quarter. Finally, American International Group Inc. acquired a new stake in The Trade Desk during the first quarter worth approximately $126,000. Institutional investors and hedge funds own 53.08% of the company’s stock.
The 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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