The Trade Desk (NASDAQ:TTD) Given Consensus Rating of “Hold” by Analysts

Shares of The Trade Desk (NASDAQ:TTD) have earned a consensus rating of “Hold” from the thirty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, twenty-one have issued a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.4294.

A number of research firms have weighed in on TTD. Scotiabank set a $20.00 price target on Trade Desk in a research note on Monday, May 11th. Rosenblatt Securities dropped their price objective on Trade Desk from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Benchmark reissued a “buy” rating on shares of Trade Desk in a report on Tuesday, June 16th. Piper Sandler reissued a “neutral” rating and issued a $24.00 target price on shares of Trade Desk in a research note on Friday, May 8th. Finally, Guggenheim lowered their target price on shares of Trade Desk from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Trade Desk Price Performance

Trade Desk stock opened at $17.29 on Monday. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 0.81 and a beta of 1.04. The firm has a 50-day moving average of $19.57 and a 200-day moving average of $24.16. Trade Desk has a one year low of $16.70 and a one year high of $91.45.

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

Insider Buying and Selling

In other news, Director Samantha Jacobson sold 53,681 shares of Trade Desk 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 of the company’s stock, valued at $276,912.86. This trade represents a 80.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its position in Trade Desk by 2,382.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock worth $27,000 after buying an additional 691 shares during the last quarter. Binnacle Investments Inc acquired a new stake in shares of Trade Desk in the third quarter valued at approximately $37,000. Albion Financial Group UT acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $30,000. CVA Family Office LLC lifted its position 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 during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Trade Desk during the 4th quarter worth approximately $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.