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 to investors on Thursday,Benzinga reports. They currently have a $145.00 target price on the technology company's stock. Needham & Company LLC's target price would indicate a potential upside of 140.86% from the company's current price.
Several other equities research analysts also recently commented on TTD. Wedbush raised their target price on Trade Desk from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Monday, January 6th. KeyCorp upped their target price on shares of Trade Desk from $140.00 to $142.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Oppenheimer lowered their target price on Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. DA Davidson dropped their price objective on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial decreased their price target on shares of Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and an average target price of $119.45.
Read Our Latest Stock Report on Trade Desk
Trade Desk Stock Up 2.3 %
Shares of Trade Desk stock opened at $60.20 on Thursday. The firm has a market cap of $29.86 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. Trade Desk has a 52-week low of $57.86 and a 52-week high of $141.53. The company's 50-day simple moving average is $101.57 and its 200-day simple moving average is $112.58.
Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Equities research analysts anticipate that Trade Desk will post 1.06 EPS for the current year.
Trade Desk declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Insider Transactions at Trade Desk
In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company's stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Trade Desk
A number of large investors have recently bought and sold shares of TTD. Edgewood Management LLC raised its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Norges Bank acquired a new position in Trade Desk during the 4th quarter worth approximately $524,187,000. Brown Advisory Inc. raised its holdings 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 last quarter. Jennison Associates LLC lifted its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $231,570,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.
Trade Desk Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Trade Desk, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trade Desk wasn't on the list.
While Trade Desk currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
