Trade Desk (NASDAQ:TTD) Given New $78.00 Price Target at Rosenblatt Securities

Trade Desk (NASDAQ:TTD) had its target price boosted by Rosenblatt Securities from $77.00 to $78.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

TTD has been the topic of several other reports. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Susquehanna reduced their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. HSBC set a $75.00 target price on Trade Desk and gave the company a “buy” rating in a research report on Wednesday, April 23rd. UBS Group cut their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company cut their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.15.

Trade Desk Stock Performance

Trade Desk stock opened at $71.46 on Friday. The stock’s 50 day moving average price is $61.50 and its 200 day moving average price is $88.85. The firm has a market capitalization of $35.12 billion, a PE ratio of 91.62, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. Trade Desk has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director now owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Lyell Wealth Management LP grew its stake in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after buying an additional 19,204 shares during the last quarter. Yousif Capital Management LLC boosted its position in Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock worth $688,000 after acquiring an additional 300 shares during the period. Allworth Financial LP boosted its position in Trade Desk by 46.3% during the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock worth $660,000 after acquiring an additional 1,732 shares during the period. Vontobel Holding Ltd. boosted its position in Trade Desk by 17.9% during the 4th quarter. Vontobel Holding Ltd. now owns 13,020 shares of the technology company’s stock worth $1,530,000 after acquiring an additional 1,974 shares during the period. Finally, Principal Securities Inc. boosted its position in Trade Desk by 6.9% during the 4th quarter. Principal Securities Inc. now owns 7,675 shares of the technology company’s stock worth $902,000 after acquiring an additional 496 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Company Profile

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