Piper Sandler Reaffirms Overweight Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $110.00 target price on the technology company’s stock, up from their previous target price of $105.00. Piper Sandler’s target price indicates a potential upside of 27.88% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets boosted their target price on shares of Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $105.00 in a research report on Thursday, May 2nd. Truist Financial raised their target price on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Susquehanna upped their price target on shares of Trade Desk from $75.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.59.

Trade Desk Trading Down 4.0 %

Shares of TTD opened at $86.02 on Thursday. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 238.94, a P/E/G ratio of 4.88 and a beta of 1.50. The business’s fifty day simple moving average is $83.98 and its two-hundred day simple moving average is $76.09. Trade Desk has a 12 month low of $60.23 and a 12 month high of $94.00.

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

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 15,006 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total value of $1,254,051.42. Following the completion of the transaction, the insider now directly owns 52,387 shares in the company, valued at approximately $4,377,981.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trade Desk news, insider Samantha Jacobson sold 15,006 shares of Trade Desk stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $83.57, for a total value of $1,254,051.42. Following the sale, the insider now directly owns 52,387 shares in the company, valued at approximately $4,377,981.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $303,596.23. Following the transaction, the chief financial officer now directly owns 653,366 shares of the company’s stock, valued at approximately $58,495,857.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,170 shares of company stock valued at $53,970,398. 10.18% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its position in Trade Desk by 1.4% in the third quarter. California Public Employees Retirement System now owns 808,509 shares of the technology company’s stock worth $63,185,000 after purchasing an additional 11,356 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 31.7% in the 4th quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock worth $44,226,000 after buying an additional 147,717 shares during the last quarter. Raymond James & Associates raised its position in shares of Trade Desk by 12.8% during the 4th quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after buying an additional 28,714 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Trade Desk by 30.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock valued at $21,078,000 after acquiring an additional 67,520 shares during the last quarter. Finally, Deane Retirement Strategies Inc. grew its position in Trade Desk by 126.8% in the fourth quarter. Deane Retirement Strategies Inc. now owns 26,227 shares of the technology company’s stock worth $1,887,000 after acquiring an additional 14,662 shares in the last quarter. 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.