Trade Desk (NASDAQ:TTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
Other equities research analysts have also issued research reports about the stock. Susquehanna Bancshares increased their price objective on shares of Trade Desk from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Tuesday, November 9th. Susquehanna increased their price objective on shares of Trade Desk from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Tuesday, November 9th. Oppenheimer increased their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Rosenblatt Securities reissued a “hold” rating and issued a $59.00 price objective on shares of Trade Desk in a research report on Tuesday, November 9th. Finally, Citigroup increased their price objective on shares of Trade Desk from $85.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, November 19th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $98.68.
Shares of TTD opened at $63.60 on Friday. The company has a market capitalization of $30.57 billion, a price-to-earnings ratio of 111.58, a PEG ratio of 15.47 and a beta of 2.29. The company’s 50 day simple moving average is $86.78 and its 200 day simple moving average is $81.67. Trade Desk has a 1 year low of $46.71 and a 1 year high of $114.09.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Sunday, November 7th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Trade Desk had a net margin of 25.13% and a return on equity of 24.03%. The firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $283.93 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Trade Desk’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, equities research analysts expect that Trade Desk will post 0.33 earnings per share for the current fiscal year.
In other news, Director Eric B. Paley sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $100.04, for a total value of $500,200.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO David Randall Pickles sold 96,870 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $110.00, for a total transaction of $10,655,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 295,626 shares of company stock worth $31,694,846 over the last quarter. 10.72% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its stake in Trade Desk by 2.4% during the 4th quarter. Baillie Gifford & Co. now owns 53,353,398 shares of the technology company’s stock valued at $4,889,305,000 after buying an additional 1,269,992 shares during the period. Vanguard Group Inc. increased its stake in Trade Desk by 910.5% during the 2nd quarter. Vanguard Group Inc. now owns 39,250,988 shares of the technology company’s stock valued at $3,036,456,000 after buying an additional 35,366,839 shares during the period. Morgan Stanley increased its stake in Trade Desk by 21.6% during the 3rd quarter. Morgan Stanley now owns 25,373,248 shares of the technology company’s stock valued at $1,783,739,000 after buying an additional 4,509,355 shares during the period. State Street Corp increased its stake in Trade Desk by 1,030.6% during the 2nd quarter. State Street Corp now owns 9,250,081 shares of the technology company’s stock valued at $715,586,000 after buying an additional 8,431,936 shares during the period. Finally, Geode Capital Management LLC increased its stake in Trade Desk by 938.3% during the 2nd quarter. Geode Capital Management LLC now owns 5,395,526 shares of the technology company’s stock valued at $416,787,000 after buying an additional 4,875,867 shares during the period. 59.77% of the stock is currently owned by institutional investors and hedge funds.
Trade Desk Company Profile
The Trade Desk, Inc offers a technology platform for advertising buyers. It operates through United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.