Robert W. Baird Raises Trade Desk (NASDAQ:TTD) Price Target to $130.00

Trade Desk (NASDAQ:TTD) had its price target raised by Robert W. Baird from $110.00 to $130.00 in a report released on Monday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts have also recently issued reports on TTD. BTIG Research increased their price objective on shares of Trade Desk from $110.00 to $114.00 and gave the stock a buy rating in a research note on Friday, August 9th. Truist Financial increased their price target on Trade Desk from $105.00 to $108.00 and gave the stock a buy rating in a research note on Friday, August 9th. Morgan Stanley boosted their price objective on Trade Desk from $100.00 to $110.00 and gave the company an overweight rating in a research report on Tuesday, July 23rd. DA Davidson increased their target price on Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Finally, Macquarie reissued an outperform rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of Moderate Buy and a consensus target price of $107.26.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $98.69 on Monday. Trade Desk has a 52-week low of $60.23 and a 52-week high of $102.67. The stock’s 50-day simple moving average is $95.52 and its two-hundred day simple moving average is $88.01. The stock has a market capitalization of $48.27 billion, a price-to-earnings ratio of 246.73, a PEG ratio of 5.09 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. As a group, equities analysts forecast that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,909 shares of company stock valued at $20,827,601. 10.18% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. lifted its stake in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co bought a new position in shares of Trade Desk during the first quarter valued at approximately $27,000. Bogart Wealth LLC increased its holdings in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the period. Transcendent Capital Group LLC bought a new position in Trade Desk in the second quarter worth approximately $30,000. Finally, Jones Financial Companies Lllp lifted its holdings in Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after buying an additional 418 shares during the period. Institutional investors 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.