Royal Bank Of Canada Increases Trade Desk (NASDAQ:TTD) Price Target to $100.00

Trade Desk (NASDAQ:TTD) had its price target hoisted by analysts at Royal Bank Of Canada from $85.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 16.17% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. KeyCorp increased their price target on shares of Trade Desk from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of Trade Desk in a research report on Friday, June 6th. Wedbush restated an “outperform” rating and issued a $86.00 target price on shares of Trade Desk in a research note on Tuesday, July 15th. Macquarie upped their price target on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Finally, HSBC set a $75.00 price objective on Trade Desk and gave the stock a “buy” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.09.

Trade Desk Stock Performance

TTD opened at $86.08 on Thursday. The stock has a market capitalization of $42.30 billion, a PE ratio of 104.98, a price-to-earnings-growth ratio of 3.95 and a beta of 1.36. The stock’s 50 day moving average price is $75.63 and its 200-day moving average price is $74.76. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating 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 analysts’ expectations of $575.62 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Activity

In related news, Director David B. Wells sold 28,638 shares of the firm’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 sale, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TTD. Vanguard Group Inc. raised its position in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after acquiring an additional 1,567,491 shares during the period. Jennison Associates LLC raised its holdings in Trade Desk by 17.9% in the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after purchasing an additional 2,169,252 shares during the period. Brown Advisory Inc. lifted its position in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock valued at $443,358,000 after purchasing an additional 5,387,339 shares in the last quarter. Invesco Ltd. grew its holdings in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after purchasing an additional 198,822 shares during the period. Finally, FMR LLC increased its position in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.