DA Davidson Has Positive View of Trade Desk FY2024 Earnings

The Trade Desk, Inc. (NASDAQ:TTD - Free Report) - Investment analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Trade Desk in a research note issued to investors on Monday, November 11th. DA Davidson analyst T. White now anticipates that the technology company will earn $0.82 per share for the year, up from their prior forecast of $0.75. DA Davidson currently has a "Buy" rating and a $134.00 price target on the stock. The consensus estimate for Trade Desk's current full-year earnings is $0.86 per share. DA Davidson also issued estimates for Trade Desk's Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.08 EPS.

Several other research firms also recently issued reports on TTD. Truist Financial boosted their price target on Trade Desk from $120.00 to $135.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler restated an "overweight" rating and set a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a research note on Friday. Oppenheimer raised their target price on shares of Trade Desk from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Friday. Loop Capital upped their price target on shares of Trade Desk from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Monday. Finally, New Street Research downgraded Trade Desk from a "neutral" rating to a "sell" rating and set a $86.00 target price on the stock. in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $122.65.

Trade Desk Stock Performance

Trade Desk stock traded up $0.47 during midday trading on Tuesday, reaching $129.81. 1,007,275 shares of the company's stock were exchanged, compared to its average volume of 3,819,100. The firm has a market cap of $63.81 billion, a price-to-earnings ratio of 212.03, a P/E/G ratio of 6.02 and a beta of 1.47. Trade Desk has a 52 week low of $61.47 and a 52 week high of $132.65. The stock's 50-day simple moving average is $113.32 and its 200 day simple moving average is $101.59.

Insider Activity at Trade Desk

In other news, CFO Laura Schenkein sold 3,130 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the sale, the chief financial officer now owns 693,953 shares in the company, valued at $68,930,351.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Laura Schenkein sold 3,130 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.33, for a total transaction of $310,902.90. Following the sale, the chief financial officer now owns 693,953 shares of the company's stock, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 over the last 90 days. Insiders own 9.72% of the company's stock.

Institutional Trading of Trade Desk

Hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk in the second quarter valued at approximately $30,000. EdgeRock Capital LLC purchased a new position in Trade Desk in the 2nd quarter valued at approximately $37,000. Avior Wealth Management LLC grew its stake in Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock valued at $40,000 after buying an additional 100 shares in the last quarter. Quarry LP bought a new stake in Trade Desk during the 2nd quarter valued at $41,000. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock worth $41,000 after acquiring an additional 150 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.