Cantor Fitzgerald Reiterates Neutral Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "neutral" rating restated by analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $110.00 target price on the technology company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 0.32% from the company's current price.

Other research analysts have also issued reports about the stock. Morgan Stanley raised their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 23rd. Truist Financial lifted their price objective on Trade Desk from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 9th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of Trade Desk in a research note on Wednesday, September 11th. Bank of America initiated coverage on Trade Desk in a research note on Wednesday, September 4th. They set a "buy" rating and a $135.00 price target on the stock. Finally, Oppenheimer upped their target price on Trade Desk from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk has an average rating of "Moderate Buy" and a consensus price target of $109.05.

Trade Desk Stock Up 0.2 %

TTD traded up $0.20 during midday trading on Monday, hitting $109.65. 2,154,481 shares of the company traded hands, compared to its average volume of 2,651,499. The firm has a market capitalization of $53.90 billion, a PE ratio of 274.13, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48. The company's 50-day moving average is $100.15 and its 200 day moving average is $94.31. Trade Desk has a 52 week low of $60.23 and a 52 week high of $112.22.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to analysts' expectations of $578.03 million. During the same quarter last year, the business earned $0.07 EPS. The firm's revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the transaction, the chief executive officer now directly owns 365,180 shares in the company, valued at approximately $40,366,997.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now directly owns 29,991 shares of the company's stock, valued at $3,269,019. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the transaction, the chief executive officer now directly owns 365,180 shares of the company's stock, valued at $40,366,997.20. The disclosure for this sale can be found here. Insiders have sold 1,056,669 shares of company stock worth $113,117,247 in the last quarter. 10.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company's stock valued at $26,000 after purchasing an additional 163 shares during the period. Riverview Trust Co purchased a new stake in shares of Trade Desk in the first quarter worth about $27,000. Transcendent Capital Group LLC acquired a new position in shares of Trade Desk in the second quarter worth about $30,000. EdgeRock Capital LLC acquired a new position in shares of Trade Desk in the second quarter worth about $37,000. Finally, Quarry LP acquired a new stake in Trade Desk during the second quarter valued at approximately $41,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.