The Trade Desk’s (TTD) “Buy” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their buy rating on shares of The Trade Desk Inc. (NASDAQ:TTD) in a report issued on Thursday morning. Cantor Fitzgerald currently has a $62.00 price objective on the technology company’s stock.

Other research analysts have also issued reports about the company. Jefferies Group LLC reiterated a buy rating and set a $60.00 price target (up from $57.00) on shares of The Trade Desk in a report on Friday, August 11th. Susquehanna Bancshares Inc reiterated a positive rating and set a $66.00 price target on shares of The Trade Desk in a report on Thursday, September 7th. Royal Bank Of Canada reiterated an outperform rating and set a $65.00 price target (up from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. Citigroup Inc. reiterated a buy rating and set a $60.00 price target (up from $55.00) on shares of The Trade Desk in a report on Friday, August 11th. Finally, Zacks Investment Research lowered The Trade Desk from a buy rating to a hold rating in a report on Tuesday, June 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The Trade Desk presently has a consensus rating of Buy and an average target price of $56.00.

Shares of The Trade Desk (TTD) opened at 59.80 on Thursday. The firm has a market cap of $2.44 billion and a P/E ratio of 55.22. The stock’s 50 day moving average is $60.54 and its 200-day moving average is $60.54. The Trade Desk has a 52-week low of $22.01 and a 52-week high of $62.86.

The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The company had revenue of $72.80 million during the quarter, compared to analyst estimates of $68.02 million. The Trade Desk’s revenue for the quarter was up 54.2% on a year-over-year basis. Equities analysts anticipate that The Trade Desk will post $1.44 earnings per share for the current fiscal year.

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In other news, insider David Randall Pickles sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $55.60, for a total transaction of $4,170,000.00. Following the sale, the insider now directly owns 240,517 shares in the company, valued at $13,372,745.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert David Perdue sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $49.55, for a total value of $619,375.00. Following the sale, the chief operating officer now owns 80,836 shares in the company, valued at $4,005,423.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 344,215 shares of company stock worth $18,563,203. 26.87% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in The Trade Desk by 2,223.5% in the first quarter. Wellington Management Group LLP now owns 3,437,494 shares of the technology company’s stock valued at $128,047,000 after acquiring an additional 3,289,552 shares during the period. Alliancebernstein L.P. grew its position in The Trade Desk by 6.5% in the second quarter. Alliancebernstein L.P. now owns 2,003,888 shares of the technology company’s stock valued at $100,415,000 after acquiring an additional 122,774 shares during the period. Vanguard Group Inc. grew its position in The Trade Desk by 79.9% in the second quarter. Vanguard Group Inc. now owns 1,995,138 shares of the technology company’s stock valued at $99,976,000 after acquiring an additional 885,916 shares during the period. FMR LLC grew its position in The Trade Desk by 12.7% in the second quarter. FMR LLC now owns 1,575,792 shares of the technology company’s stock valued at $78,963,000 after acquiring an additional 178,092 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in The Trade Desk by 109.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after acquiring an additional 748,795 shares during the period. Institutional investors and hedge funds own 62.80% of the company’s stock.

About The Trade Desk

The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.

Analyst Recommendations for The Trade Desk (NASDAQ:TTD)

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