Zacks Investment Research Upgrades Trade Desk (TTD) to “Buy”

Zacks Investment Research upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $198.00 target price on the technology company’s stock.

According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “

Several other analysts have also recently issued reports on TTD. JMP Securities cut shares of Trade Desk from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. BidaskClub raised shares of Trade Desk from a buy rating to a strong-buy rating in a research note on Wednesday, May 1st. Needham & Company LLC assumed coverage on shares of Trade Desk in a research note on Monday, April 22nd. They set a hold rating and a $211.03 price objective for the company. TheStreet raised shares of Trade Desk from a c rating to a b- rating in a research note on Friday, March 8th. Finally, SunTrust Banks boosted their price objective on shares of Trade Desk from $195.00 to $206.00 and gave the company a buy rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $177.83.

TTD stock traded down $4.02 during midday trading on Wednesday, hitting $198.02. The stock had a trading volume of 1,497,020 shares, compared to its average volume of 2,034,975. The stock has a market capitalization of $8.90 billion, a P/E ratio of 103.14, a PEG ratio of 5.53 and a beta of 2.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.48 and a current ratio of 1.62. Trade Desk has a 12-month low of $80.09 and a 12-month high of $232.70.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 9th. The technology company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.42. The firm had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $117.13 million. Trade Desk had a net margin of 17.41% and a return on equity of 24.41%. Trade Desk’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Research analysts forecast that Trade Desk will post 1.83 earnings per share for the current fiscal year.

In related news, Director Eric B. Paley sold 500 shares of Trade Desk stock in a transaction on Friday, March 1st. The shares were sold at an average price of $197.24, for a total transaction of $98,620.00. Following the transaction, the director now owns 31,881 shares in the company, valued at approximately $6,288,208.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Vobejda sold 875 shares of Trade Desk stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $222.89, for a total transaction of $195,028.75. Following the transaction, the insider now owns 37,193 shares in the company, valued at approximately $8,289,947.77. The disclosure for this sale can be found here. Insiders have sold a total of 650,732 shares of company stock worth $128,039,830 in the last 90 days. Company insiders own 17.44% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new position in shares of Trade Desk during the 4th quarter valued at $26,000. Financial Gravity Wealth Inc. acquired a new position in shares of Trade Desk during the 1st quarter valued at $62,000. Financial Architects Inc lifted its holdings in shares of Trade Desk by 114.1% during the 4th quarter. Financial Architects Inc now owns 304 shares of the technology company’s stock valued at $35,000 after acquiring an additional 162 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in shares of Trade Desk by 77.8% during the 4th quarter. Neuburgh Advisers LLC now owns 352 shares of the technology company’s stock valued at $41,000 after acquiring an additional 154 shares in the last quarter. Finally, Private Capital Group LLC lifted its holdings in shares of Trade Desk by 139.3% during the 4th quarter. Private Capital Group LLC now owns 493 shares of the technology company’s stock valued at $57,000 after acquiring an additional 287 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

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