Oppenheimer Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price target raised by stock analysts at Oppenheimer from $80.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 27.29% from the company’s current price.

Other research analysts have also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Macquarie lifted their target price on shares of Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company cut shares of Trade Desk from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. Finally, Royal Bank Of Canada decreased their target price on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.64.

Trade Desk Price Performance

NASDAQ:TTD opened at $86.42 on Tuesday. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The company’s 50-day simple moving average is $74.89 and its 200 day simple moving average is $75.11. The firm has a market capitalization of $42.47 billion, a P/E ratio of 105.39, a PEG ratio of 3.84 and a beta of 1.36.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Trade Desk’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction that occurred 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 owned 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of TTD. Cornerstone Wealth Group LLC boosted its position in shares of Trade Desk by 2.8% during the second quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company’s stock worth $321,000 after acquiring an additional 122 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of Trade Desk by 3.5% during the second quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company’s stock worth $305,000 after acquiring an additional 142 shares during the last quarter. Ashton Thomas Securities LLC boosted its position in shares of Trade Desk by 2.6% during the first quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company’s stock worth $315,000 after acquiring an additional 144 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Trade Desk by 17.2% during the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock worth $120,000 after acquiring an additional 150 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its position in shares of Trade Desk by 2.4% during the first quarter. Tradition Wealth Management LLC now owns 6,349 shares of the technology company’s stock worth $347,000 after acquiring an additional 150 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

About Trade Desk

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.