The Trade Desk Inc. (TTD) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of The Trade Desk Inc. (NASDAQ:TTD) from a sell rating to a hold rating in a report published on Friday.
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. “
A number of other research analysts have also recently issued reports on the company. Jefferies Group LLC reiterated a buy rating and issued a $63.00 target price on shares of The Trade Desk in a research report on Friday, November 10th. Royal Bank Of Canada lifted their target price on The Trade Desk from $65.00 to $67.00 and gave the company an outperform rating in a research report on Friday, November 10th. BidaskClub cut The Trade Desk from a buy rating to a hold rating in a research report on Friday, November 10th. Vetr upgraded The Trade Desk from a buy rating to a strong-buy rating and set a $71.76 target price on the stock in a research report on Thursday, November 9th. Finally, SunTrust Banks, Inc. reiterated a hold rating and issued a $55.00 target price on shares of The Trade Desk in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The Trade Desk presently has a consensus rating of Buy and a consensus price target of $67.07.
The Trade Desk (TTD) traded up $1.11 during trading on Friday, reaching $50.01. The company’s stock had a trading volume of 1,087,152 shares, compared to its average volume of 940,321. The Trade Desk has a 1 year low of $25.48 and a 1 year high of $67.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market capitalization of $2,010.00 and a PE ratio of 45.24.
The Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.15. The Trade Desk had a return on equity of 25.60% and a net margin of 15.93%. The firm had revenue of $79.40 million for the quarter, compared to analysts’ expectations of $76.84 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. research analysts forecast that The Trade Desk will post 1.16 earnings per share for the current year.
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In other news, COO Robert David Perdue sold 12,500 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $53.66, for a total transaction of $670,750.00. Following the sale, the chief operating officer now directly owns 82,664 shares in the company, valued at $4,435,750.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul Ross sold 3,705 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $63.33, for a total value of $234,637.65. Following the sale, the chief financial officer now owns 53,451 shares in the company, valued at $3,385,051.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,894 shares of company stock worth $13,710,797. Company insiders own 26.87% of the company’s stock.
Several institutional investors have recently bought and sold shares of TTD. Bank of New York Mellon Corp lifted its stake in shares of The Trade Desk by 169.4% in the first quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 19,992 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of The Trade Desk in the first quarter worth approximately $952,000. American International Group Inc. acquired a new position in shares of The Trade Desk in the first quarter worth approximately $126,000. TIAA CREF Investment Management LLC lifted its stake in shares of The Trade Desk by 18.1% in the first quarter. TIAA CREF Investment Management LLC now owns 19,822 shares of the technology company’s stock worth $738,000 after acquiring an additional 3,033 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of The Trade Desk by 149.9% in the first quarter. Vanguard Group Inc. now owns 1,109,222 shares of the technology company’s stock worth $41,319,000 after acquiring an additional 665,330 shares during the period. 62.66% of the stock is currently owned by institutional investors.
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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