Trade Desk (NASDAQ:TTD) Price Target Increased to $285.00 by Analysts at SunTrust Banks

Trade Desk (NASDAQ:TTD) had its price target raised by SunTrust Banks from $206.00 to $285.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently weighed in on TTD. Susquehanna Bancshares increased their price target on shares of Trade Desk from $205.00 to $260.00 and gave the company a positive rating in a report on Friday, May 10th. Jefferies Financial Group cut shares of Trade Desk from a buy rating to a hold rating and increased their price target for the company from $225.00 to $250.00 in a report on Thursday, July 18th. Needham & Company LLC initiated coverage on shares of Trade Desk in a report on Monday, April 22nd. They issued a hold rating and a $211.03 price target on the stock. BidaskClub raised shares of Trade Desk from a hold rating to a buy rating in a report on Friday, August 2nd. Finally, DA Davidson increased their price target on shares of Trade Desk to $220.00 and gave the company a buy rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Trade Desk currently has an average rating of Hold and a consensus price target of $213.24.

Shares of TTD stock traded down $1.73 on Friday, reaching $271.94. The stock had a trading volume of 3,485,090 shares, compared to its average volume of 1,313,006. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $246.28. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 141.64, a price-to-earnings-growth ratio of 7.04 and a beta of 2.72. Trade Desk has a 12 month low of $102.35 and a 12 month high of $289.51.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.51. The company had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Trade Desk had a net margin of 17.41% and a return on equity of 24.41%. Trade Desk’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Research analysts forecast that Trade Desk will post 1.83 earnings per share for the current year.

In other Trade Desk news, insider Vivian Yang sold 7,195 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $235.19, for a total transaction of $1,692,192.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Vobejda sold 875 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $199.87, for a total transaction of $174,886.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,833 shares of company stock worth $33,746,371. Company insiders own 17.44% of the company’s stock.

Several large investors have recently made changes to their positions in TTD. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 95.7% during the 2nd quarter. Baillie Gifford & Co. now owns 2,518,927 shares of the technology company’s stock worth $573,761,000 after acquiring an additional 1,231,808 shares in the last quarter. BlackRock Inc. boosted its position in shares of Trade Desk by 1.7% during the 1st quarter. BlackRock Inc. now owns 2,466,365 shares of the technology company’s stock worth $488,215,000 after acquiring an additional 41,609 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trade Desk by 72.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,227,743 shares of the technology company’s stock worth $515,613,000 after acquiring an additional 937,371 shares in the last quarter. Zevenbergen Capital Investments LLC boosted its position in shares of Trade Desk by 4.9% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 719,150 shares of the technology company’s stock worth $142,356,000 after acquiring an additional 33,700 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Trade Desk by 7.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 581,451 shares of the technology company’s stock worth $115,098,000 after acquiring an additional 42,227 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

Further Reading: Bid-Ask Spread

The Fly

Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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