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

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $84.00 price objective on the technology company's stock. Needham & Company LLC's price target indicates a potential upside of 76.62% from the company's current price.

Several other brokerages have also recently issued reports on TTD. JMP Securities lowered their target price on shares of Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of Trade Desk from $120.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird cut their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wedbush upped their target price on Trade Desk from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Finally, Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and a consensus price target of $104.10.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $47.56 on Tuesday. The firm's 50-day moving average is $60.03 and its two-hundred day moving average is $101.03. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The firm has a market capitalization of $23.59 billion, a PE ratio of 60.97, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

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

Trade Desk announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.72% of the company's stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Trade Desk in the 4th quarter worth about $524,187,000. Brown Advisory Inc. grew its position in shares of Trade Desk by 3,037.0% in the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock valued at $319,089,000 after purchasing an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trade Desk during the 4th quarter worth approximately $231,570,000. Franklin Resources Inc. raised its position 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 worth $219,121,000 after purchasing an additional 1,354,891 shares during the last quarter. Finally, FMR LLC raised its position in shares of Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

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