Trade Desk (NASDAQ:TTD) Given New $90.00 Price Target at Citigroup

Trade Desk (NASDAQ:TTD) had its price objective boosted by Citigroup from $82.00 to $90.00 in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts also recently weighed in on TTD. HSBC set a $75.00 price target on Trade Desk and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley boosted their target price on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. KeyCorp raised their price target on shares of Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, DA Davidson lowered their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.27.

Trade Desk Trading Up 1.1%

NASDAQ:TTD opened at $74.39 on Tuesday. The company has a market capitalization of $36.56 billion, a P/E ratio of 90.72, a price-to-earnings-growth ratio of 3.38 and a beta of 1.36. The firm has a 50-day moving average price of $69.44 and a two-hundred day moving average price of $80.76. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, the chief executive officer owned 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in TTD. Brown Advisory Inc. boosted its position in shares of Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock worth $443,358,000 after buying an additional 5,387,339 shares during the period. Norges Bank acquired a new position in Trade Desk during the fourth quarter valued at $524,187,000. Nuveen LLC purchased a new stake in Trade Desk in the 1st quarter worth about $191,935,000. Raymond James Financial Inc. purchased a new stake in Trade Desk in the 4th quarter worth about $231,570,000. Finally, Vanguard Group Inc. boosted its position in Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after acquiring an additional 1,567,491 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.