The Trade Desk, Inc. (NASDAQ:TTD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The Trade Desk, Inc. (NASDAQ:TTDGet Rating) have earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $84.24.

TTD has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. Oppenheimer increased their price objective on shares of Trade Desk from $60.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Jefferies Financial Group decreased their price objective on shares of Trade Desk from $75.00 to $65.00 in a research report on Thursday, August 4th. Needham & Company LLC increased their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, DA Davidson increased their price objective on shares of Trade Desk from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CFO Blake Jeffrey Grayson sold 3,676 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.50, for a total value of $266,510.00. Following the transaction, the chief financial officer now directly owns 197,858 shares of the company’s stock, valued at $14,344,705. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTD. Amundi lifted its position in shares of Trade Desk by 0.8% during the second quarter. Amundi now owns 603,411 shares of the technology company’s stock valued at $24,866,000 after purchasing an additional 4,789 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Trade Desk by 186.2% during the second quarter. Verition Fund Management LLC now owns 8,286 shares of the technology company’s stock valued at $347,000 after purchasing an additional 5,391 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Trade Desk by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 21,299 shares of the technology company’s stock valued at $892,000 after purchasing an additional 574 shares in the last quarter. Prelude Capital Management LLC lifted its position in shares of Trade Desk by 55.4% during the second quarter. Prelude Capital Management LLC now owns 58,491 shares of the technology company’s stock valued at $2,450,000 after purchasing an additional 20,860 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Trade Desk by 2.5% during the second quarter. Legal & General Group Plc now owns 2,473,691 shares of the technology company’s stock valued at $103,623,000 after purchasing an additional 59,785 shares in the last quarter. 67.71% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $61.89 on Monday. Trade Desk has a 52-week low of $39.00 and a 52-week high of $114.09. The firm has a 50 day moving average price of $57.59 and a two-hundred day moving average price of $56.89. The stock has a market cap of $30.01 billion, a P/E ratio of 884.27, a price-to-earnings-growth ratio of 12.28 and a beta of 1.94.

Trade Desk (NASDAQ:TTDGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The business had revenue of $376.96 million during the quarter, compared to analyst estimates of $365.20 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s revenue was up 34.6% compared to the same quarter last year. Analysts predict that Trade Desk will post 0.21 earnings per share for the current fiscal year.

About Trade Desk

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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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Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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