Trade Desk (NASDAQ:TTD) Earns “Buy” Rating from SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of Trade Desk (NASDAQ:TTD) in a report issued on Wednesday morning, AnalystRatings.com reports. They currently have a $285.00 price objective on the technology company’s stock.

TTD has been the topic of a number of other research reports. Pivotal Research reaffirmed a buy rating and set a $300.00 target price on shares of Trade Desk in a research note on Thursday, August 8th. Jefferies Financial Group cut Trade Desk from a buy rating to a hold rating and increased their price objective for the stock from $225.00 to $250.00 in a research note on Thursday, July 18th. Zacks Investment Research raised Trade Desk from a hold rating to a buy rating and set a $221.00 price objective on the stock in a research note on Saturday, October 26th. ValuEngine cut Trade Desk from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Citigroup cut Trade Desk from a buy rating to a neutral rating and increased their price objective for the stock from $205.00 to $250.00 in a research note on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $226.13.

NASDAQ:TTD opened at $195.53 on Wednesday. The company has a fifty day simple moving average of $196.62 and a two-hundred day simple moving average of $223.21. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 101.84, a price-to-earnings-growth ratio of 3.92 and a beta of 2.71. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. Trade Desk has a 52 week low of $102.35 and a 52 week high of $289.51.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.51. Trade Desk had a net margin of 17.44% and a return on equity of 23.63%. The business had revenue of $159.90 million during the quarter, compared to the consensus estimate of $155.26 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, analysts expect that Trade Desk will post 1.85 EPS for the current year.

In other Trade Desk news, CEO Jeffrey Terry Green sold 102,808 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $257.79, for a total transaction of $26,502,874.32. Following the sale, the chief executive officer now owns 196,200 shares of the company’s stock, valued at approximately $50,578,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vivian Yang sold 1,263 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $247.06, for a total value of $312,036.78. Following the sale, the insider now directly owns 43,727 shares in the company, valued at approximately $10,803,192.62. The disclosure for this sale can be found here. In the last three months, insiders sold 452,463 shares of company stock worth $114,287,482. 17.44% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Redhawk Wealth Advisors Inc. lifted its position in Trade Desk by 1.7% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 2,249 shares of the technology company’s stock valued at $512,000 after purchasing an additional 37 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Trade Desk by 59.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 159 shares of the technology company’s stock worth $36,000 after purchasing an additional 59 shares in the last quarter. World Asset Management Inc grew its position in Trade Desk by 5.2% during the 3rd quarter. World Asset Management Inc now owns 1,291 shares of the technology company’s stock worth $242,000 after purchasing an additional 64 shares in the last quarter. WINTON GROUP Ltd grew its position in Trade Desk by 3.3% during the 2nd quarter. WINTON GROUP Ltd now owns 2,201 shares of the technology company’s stock worth $501,000 after purchasing an additional 71 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Trade Desk by 3.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,372 shares of the technology company’s stock worth $445,000 after purchasing an additional 77 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

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).

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Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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