Trade Desk (NASDAQ:TTD) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $110.00 price target on the technology company’s stock.

Other analysts have also recently issued reports about the stock. DA Davidson raised their price target on shares of Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a report on Thursday, May 9th. Macquarie reaffirmed an outperform rating and set a $115.00 price objective on shares of Trade Desk in a research report on Friday, August 9th. Royal Bank of Canada raised their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an outperform rating in a research report on Friday, August 9th. StockNews.com raised shares of Trade Desk from a hold rating to a buy rating in a research report on Friday, August 30th. Finally, Susquehanna raised their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a positive rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $108.85.

Trade Desk Stock Performance

TTD stock opened at $100.31 on Thursday. The stock has a market cap of $49.31 billion, a P/E ratio of 250.78, a P/E/G ratio of 5.14 and a beta of 1.48. The firm has a 50 day simple moving average of $97.62 and a 200 day simple moving average of $91.49. Trade Desk has a 52 week low of $60.23 and a 52 week high of $105.39.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results 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 business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Sell-side analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now owns 99,374 shares in the company, valued at $9,887,713. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. The disclosure for this sale can be found here. Insiders have sold 642,868 shares of company stock worth $65,415,112 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares in the last quarter. Norges Bank bought a new stake in Trade Desk during the 4th quarter worth about $255,316,000. 1832 Asset Management L.P. grew its holdings in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after acquiring an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings in Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Trade Desk by 10.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after acquiring an additional 209,222 shares during the last quarter. Institutional investors and hedge funds 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.