Zacks: Analysts Expect The Trade Desk, Inc. (NASDAQ:TTD) Will Post Quarterly Sales of $365.22 Million

Posted by on Jun 2nd, 2022

Equities analysts expect that The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) will announce $365.22 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Trade Desk’s earnings, with the highest sales estimate coming in at $365.84 million and the lowest estimate coming in at $364.20 million. Trade Desk reported sales of $279.97 million during the same quarter last year, which indicates a positive year over year growth rate of 30.4%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Trade Desk will report full-year sales of $1.58 billion for the current fiscal year, with estimates ranging from $1.56 billion to $1.61 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.01 billion, with estimates ranging from $1.96 billion to $2.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Trade Desk.

Trade Desk (NASDAQ:TTD – Get Rating) last posted its earnings results on Tuesday, May 10th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.25. The company had revenue of $315.32 million during the quarter, compared to analyst estimates of $304.28 million. Trade Desk had a net margin of 7.78% and a return on equity of 7.08%. Trade Desk’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share.

A number of equities analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Trade Desk in a research note on Wednesday, March 2nd. They issued a “buy” rating and a $108.00 price target for the company. StockNews.com assumed coverage on shares of Trade Desk in a research note on Thursday, March 31st. They issued a “hold” rating for the company. DA Davidson decreased their price target on shares of Trade Desk from $105.00 to $65.00 in a research note on Thursday, May 12th. Benchmark began coverage on shares of Trade Desk in a research note on Tuesday, March 1st. They issued a “hold” rating for the company. Finally, Royal Bank of Canada decreased their target price on shares of Trade Desk from $105.00 to $85.00 in a research note on Monday, May 9th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $89.83.

Trade Desk stock opened at $51.56 on Thursday. The firm has a 50-day moving average of $59.29 and a 200-day moving average of $74.02. The firm has a market cap of $25.00 billion, a P/E ratio of 245.52, a P/E/G ratio of 7.54 and a beta of 2.15. Trade Desk has a 1-year low of $39.39 and a 1-year high of $114.09.

In other news, CFO Blake Jeffrey Grayson sold 6,084 shares of the business’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $72.50, for a total value of $441,090.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Wells bought 17,500 shares of Trade Desk stock in a transaction dated Wednesday, May 25th. The stock was acquired at an average price of $45.81 per share, for a total transaction of $801,675.00. Following the completion of the acquisition, the director now owns 106,570 shares in the company, valued at $4,881,971.70. The disclosure for this purchase can be found here. Insiders own 10.79% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. MUFG Americas Holdings Corp purchased a new position in shares of Trade Desk during the 4th quarter worth about $26,000. Itau Unibanco Holding S.A. purchased a new stake in Trade Desk in the 4th quarter valued at about $27,000. Selective Wealth Management Inc. purchased a new stake in Trade Desk in the 4th quarter valued at about $27,000. Curi Wealth Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at about $27,000. Finally, Outfitter Financial LLC purchased a new stake in Trade Desk in the 4th quarter valued at about $32,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile (Get Rating)

Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

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