Trade Desk (NASDAQ:TTD) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trade Desk (NASDAQ:TTD - Free Report) in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a $84.00 target price on the technology company's stock.

Other equities research analysts have also issued research reports about the company. Cfra Research raised Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Oppenheimer reduced their target price on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada dropped their price objective on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.10.

Trade Desk Stock Up 3.7 %

NASDAQ:TTD traded up $1.81 during trading hours on Monday, reaching $50.26. 13,946,560 shares of the stock were exchanged, compared to its average volume of 5,290,820. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The business has a 50-day moving average of $61.52 and a two-hundred day moving average of $101.61. The company has a market capitalization of $24.93 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, research analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Norges Bank purchased a new stake in Trade Desk in the fourth quarter valued at approximately $524,187,000. Brown Advisory Inc. grew its stake in Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock worth $319,089,000 after buying an additional 2,628,409 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Trade Desk in the 4th quarter valued at $231,570,000. Franklin Resources Inc. lifted its holdings in shares of Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after acquiring an additional 1,354,891 shares in the last quarter. Finally, FMR LLC increased its holdings in Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after purchasing an additional 1,172,082 shares in the last quarter. 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.