Trade Desk’s (TTD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Thursday morning,Benzinga reports. They currently have a $145.00 target price on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley cut their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday. Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their target price for the company from $135.00 to $90.00 in a research note on Thursday. Citigroup boosted their price target on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, BMO Capital Markets boosted their price objective on Trade Desk from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.77.

Trade Desk Trading Down 2.1 %

Shares of Trade Desk stock opened at $80.16 on Thursday. The firm has a fifty day simple moving average of $120.93 and a 200-day simple moving average of $115.40. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $73.68 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its earnings results 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 13.17% and a net margin of 13.34%. As a group, research analysts predict that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk announced that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last 90 days. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently made changes to their positions in TTD. Creative Planning boosted its holdings in Trade Desk by 10.6% during the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after buying an additional 12,384 shares during the last quarter. Swedbank AB boosted its stake in Trade Desk by 22.6% during the 3rd quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after acquiring an additional 53,130 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Trade Desk by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 1,193 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Trade Desk in the third quarter worth $263,000. Finally, Paragon Capital Management Inc. bought a new position in shares of Trade Desk during the third quarter worth $811,000. 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.