Royal Bank Of Canada Reaffirms Outperform Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday, August 8th, Marketbeat.com reports. They presently have a $90.00 price objective on the technology company’s stock, down from their prior price objective of $100.00. Royal Bank Of Canada’s price target would indicate a potential upside of 72.68% from the company’s current price.

TTD has been the subject of several other reports. Bank of America reissued an “underperform” rating and set a $55.00 price objective (down from $130.00) on shares of Trade Desk in a research note on Friday, August 8th. Truist Financial boosted their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 9th. BMO Capital Markets set a $98.00 price objective on shares of Trade Desk and gave the company an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley boosted their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $100.00 price objective on shares of Trade Desk in a research note on Tuesday, June 24th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.58.

Trade Desk Stock Performance

Shares of TTD opened at $52.12 on Friday. The stock has a fifty day moving average of $74.22 and a two-hundred day moving average of $71.04. The company has a market capitalization of $25.61 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 2.60 and a beta of 1.37. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The company had revenue of $694.04 million for the quarter, compared to analysts’ expectations of $686.00 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jay R. Grant sold 51,290 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $91.18, for a total value of $4,676,622.20. Following the sale, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. This represents a 19.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the stock. Arohi Asset Management PTE Ltd. acquired a new stake in shares of Trade Desk in the 2nd quarter valued at about $5,745,000. CANADA LIFE ASSURANCE Co raised its stake in Trade Desk by 1.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 294,912 shares of the technology company’s stock worth $21,264,000 after acquiring an additional 3,909 shares during the period. Tower Research Capital LLC TRC raised its stake in Trade Desk by 66.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,268 shares of the technology company’s stock worth $523,000 after acquiring an additional 2,907 shares during the period. Synergy Financial Group LTD raised its stake in Trade Desk by 14.2% during the second quarter. Synergy Financial Group LTD now owns 53,796 shares of the technology company’s stock worth $3,873,000 after acquiring an additional 6,707 shares during the period. Finally, Rakuten Securities Inc. raised its stake in Trade Desk by 32.7% during the second quarter. Rakuten Securities Inc. now owns 6,744 shares of the technology company’s stock worth $486,000 after acquiring an additional 1,662 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.