Trade Desk (NASDAQ:TTD) Earns “Buy” Rating from Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $84.00 price objective on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 70.59% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wedbush boosted their price objective on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. JMP Securities dropped their price objective on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Wolfe Research lifted their target price on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lowered their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $109.69.

Trade Desk Trading Up 1.2 %

Trade Desk stock opened at $49.24 on Monday. The business’s 50 day simple moving average is $65.74 and its 200 day simple moving average is $102.80. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 63.13, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several large investors have recently modified their holdings of TTD. Investment Management Corp VA ADV purchased a new stake in Trade Desk in the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Trade Desk during the 4th quarter valued at $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter valued at $34,000. 67.77% of the stock is owned by institutional investors.

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.