Trade Desk (NASDAQ:TTD) Price Target Increased to $110.00 by Analysts at Morgan Stanley

Trade Desk (NASDAQ:TTD) had its price target boosted by Morgan Stanley from $100.00 to $110.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other brokerages also recently issued reports on TTD. Needham & Company LLC restated a buy rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, July 9th. Truist Financial reissued a buy rating and set a $105.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Royal Bank of Canada lifted their price target on shares of Trade Desk from $105.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Susquehanna reissued a positive rating and set a $110.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. Finally, Wolfe Research assumed coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They issued an outperform rating and a $115.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of Moderate Buy and a consensus price target of $100.38.

Trade Desk Price Performance

Trade Desk stock opened at $90.88 on Tuesday. The firm has a market capitalization of $44.45 billion, a price-to-earnings ratio of 227.21, a PEG ratio of 5.17 and a beta of 1.48. The company’s 50 day simple moving average is $96.72 and its 200 day simple moving average is $85.59. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $102.67.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The company had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. As a group, analysts predict that Trade Desk will post 0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the transaction, the chief executive officer now directly owns 824,022 shares of the company’s stock, valued at approximately $69,605,138.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,909 shares of company stock valued at $27,162,851. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the period. Jennison Associates LLC grew its position in shares of Trade Desk by 91.7% in the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after purchasing an additional 6,978,352 shares during the last quarter. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. bought a new position in shares of Trade Desk during the first quarter worth approximately $225,710,000. Finally, Jericho Capital Asset Management L.P. boosted its stake in Trade Desk by 4.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after purchasing an additional 100,000 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

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.