Trade Desk (NASDAQ:TTD) Raised to “Buy” at Jefferies Financial Group

Trade Desk (NASDAQ:TTD) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, FinViz reports. The brokerage currently has a $105.00 price objective on the technology company’s stock, up from their previous price objective of $95.00. Jefferies Financial Group’s target price indicates a potential upside of 22.94% from the stock’s current price.

Several other equities research analysts have also recently weighed in on TTD. Royal Bank of Canada increased their price target on Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Truist Financial increased their target price on shares of Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Susquehanna boosted their price target on shares of Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. KeyCorp increased their price objective on shares of Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company boosted their target price on shares of Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $90.38.

Trade Desk Price Performance

NASDAQ:TTD opened at $85.41 on Thursday. Trade Desk has a one year low of $60.23 and a one year high of $94.00. The company has a market cap of $41.76 billion, a PE ratio of 237.26, a P/E/G ratio of 4.57 and a beta of 1.50. The firm’s 50 day simple moving average is $83.45 and its 200 day simple moving average is $75.69.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The business had revenue of $605.80 million for the quarter, compared to analyst estimates of $582.61 million. Equities research analysts expect that Trade Desk will post 0.79 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the sale, the insider now owns 139,794 shares in the company, valued at approximately $12,515,756.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Laura Schenkein sold 3,391 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $303,596.23. Following the completion of the sale, the chief financial officer now owns 653,366 shares in the company, valued at $58,495,857.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 2,136 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the transaction, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 642,170 shares of company stock worth $53,970,398. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. bought a new position in Trade Desk during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in Trade Desk in the third quarter valued at about $26,000. Pinnacle Bancorp Inc. grew its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co purchased a new stake in shares of Trade Desk during the 1st quarter worth approximately $27,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Trade Desk in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors 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.