Trade Desk (NASDAQ:TTD) Shares Gap Up – What’s Next?

The Trade Desk (NASDAQ:TTD) shares gapped up prior to trading on Monday . The stock had previously closed at $19.53, but opened at $20.28. Trade Desk shares last traded at $20.0650, with a volume of 1,987,390 shares.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTD. UBS Group set a $31.00 price target on Trade Desk and gave the company a “buy” rating in a research report on Tuesday, April 21st. Piper Sandler reissued a “neutral” rating and set a $24.00 target price on shares of Trade Desk in a report on Friday, May 8th. Benchmark reiterated a “buy” rating on shares of Trade Desk in a research note on Tuesday, June 16th. KeyCorp cut shares of Trade Desk from an “overweight” rating to a “sector weight” rating in a report on Friday, May 8th. Finally, Rosenblatt Securities reduced their price objective on Trade Desk from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.52.

Trade Desk Stock Performance

The firm has a market capitalization of $9.59 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.04. The business has a fifty day moving average of $20.35 and a 200-day moving average of $25.44.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.24). Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The business had revenue of $688.86 million during the quarter, compared to analyst estimates of $678.87 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Samantha Jacobson sold 53,681 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $21.14, for a total value of $1,134,816.34. Following the completion of the transaction, the director owned 13,099 shares in the company, valued at $276,912.86. This represents a 80.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after purchasing an additional 169 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in Trade Desk by 2.3% during the fourth quarter. Howard Capital Management Inc. now owns 12,150 shares of the technology company’s stock worth $461,000 after buying an additional 275 shares in the last quarter. Tema Etfs LLC grew its position in Trade Desk by 4.1% in the fourth quarter. Tema Etfs LLC now owns 7,600 shares of the technology company’s stock worth $288,000 after buying an additional 302 shares during the last quarter. Visionary Wealth Advisors increased its holdings in shares of Trade Desk by 3.3% in the second quarter. Visionary Wealth Advisors now owns 10,119 shares of the technology company’s stock valued at $728,000 after buying an additional 327 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Trade Desk by 62.1% in the fourth quarter. CVA Family Office LLC now owns 898 shares of the technology company’s stock valued at $34,000 after buying an additional 344 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.