Truist Financial Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

by · The Markets Daily

Trade Desk (NASDAQ:TTD – Get Free Report) had its target price upped by Truist Financial from $120.00 to $135.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would suggest a potential upside of 12.74% from the company’s previous close.

A number of other research firms have also recently weighed in on TTD. KeyCorp boosted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company assumed coverage on shares of Trade Desk in a research note on Monday, October 28th. They issued an “overweight” rating and a $150.00 price objective for the company. Citigroup boosted their price target on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research started coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Morgan Stanley upped their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.19.

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Trade Desk Stock Performance

Shares of TTD stock traded down $12.79 during mid-day trading on Friday, reaching $119.74. 3,801,901 shares of the company’s stock traded hands, compared to its average volume of 3,773,160. Trade Desk has a 12 month low of $60.23 and a 12 month high of $132.65. The firm has a 50 day moving average price of $112.41 and a two-hundred day moving average price of $100.68. The firm has a market capitalization of $58.86 billion, a PE ratio of 239.48, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction dated 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 directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. PNC Financial Services Group Inc. grew its position in shares of Trade Desk by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 81,279 shares of the technology company’s stock worth $8,912,000 after acquiring an additional 9,435 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Trade Desk in the 3rd quarter worth about $1,508,000. Vance Wealth Inc. acquired a new stake in shares of Trade Desk in the third quarter valued at approximately $219,000. Caprock Group LLC raised its holdings in shares of Trade Desk by 1.0% during the third quarter. Caprock Group LLC now owns 12,883 shares of the technology company’s stock valued at $1,413,000 after buying an additional 132 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in Trade Desk by 14.1% in the 3rd quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock worth $2,005,000 after buying an additional 2,263 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

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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.

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