Trade Desk (NASDAQ:TTD) Upgraded by SunTrust Banks to “Buy”

SunTrust Banks upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a report published on Monday, December 11th, Marketbeat reports. The firm currently has $55.00 price target on the technology company’s stock, up from their prior price target of $45.25. SunTrust Banks also issued estimates for Trade Desk’s FY2017 earnings at $1.35 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $1.52 EPS, FY2019 earnings at $2.04 EPS, FY2020 earnings at $2.69 EPS and FY2021 earnings at $3.41 EPS.

Other research analysts also recently issued reports about the stock. Susquehanna Bancshares reissued a positive rating and set a $66.00 price objective on shares of Trade Desk in a research report on Thursday, September 7th. Vetr raised shares of Trade Desk from a buy rating to a strong-buy rating and set a $71.92 price objective on the stock in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Trade Desk from a hold rating to a strong-buy rating and set a $59.00 price objective on the stock in a research report on Thursday, August 17th. Cantor Fitzgerald reissued a buy rating and set a $62.00 price objective on shares of Trade Desk in a research report on Thursday, September 21st. Finally, BidaskClub downgraded shares of Trade Desk from a hold rating to a sell rating in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $66.48.

Trade Desk (NASDAQ:TTD) traded up $0.68 during trading hours on Monday, reaching $46.41. 690,155 shares of the company were exchanged, compared to its average volume of 948,146. Trade Desk has a 52 week low of $26.40 and a 52 week high of $67.30. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market cap of $1,910.00 and a price-to-earnings ratio of 45.50.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.15. The business had revenue of $79.40 million for the quarter, compared to the consensus estimate of $76.84 million. Trade Desk had a net margin of 15.93% and a return on equity of 24.34%. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. research analysts predict that Trade Desk will post 1.28 EPS for the current fiscal year.

In related news, COO Robert David Perdue sold 5,000 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.83, for a total transaction of $239,150.00. Following the sale, the chief operating officer now directly owns 96,940 shares of the company’s stock, valued at approximately $4,636,640.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian John Stempeck sold 10,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $64.18, for a total transaction of $641,800.00. The disclosure for this sale can be found here. Insiders sold a total of 83,116 shares of company stock worth $4,745,055 over the last ninety days. Insiders own 26.87% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors grew its position in Trade Desk by 22.6% during the 3rd quarter. Optimum Investment Advisors now owns 6,500 shares of the technology company’s stock valued at $400,000 after purchasing an additional 1,200 shares during the last quarter. GSA Capital Partners LLP grew its position in Trade Desk by 48.2% during the 3rd quarter. GSA Capital Partners LLP now owns 27,294 shares of the technology company’s stock valued at $1,679,000 after purchasing an additional 8,875 shares during the last quarter. Ashford Capital Management Inc. grew its position in Trade Desk by 21.1% during the 3rd quarter. Ashford Capital Management Inc. now owns 302,740 shares of the technology company’s stock valued at $18,622,000 after purchasing an additional 52,795 shares during the last quarter. Bamco Inc. NY grew its position in Trade Desk by 44.6% during the 3rd quarter. Bamco Inc. NY now owns 860,083 shares of the technology company’s stock valued at $52,904,000 after purchasing an additional 265,270 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Trade Desk by 6.7% during the 3rd quarter. Janus Henderson Group PLC now owns 518,193 shares of the technology company’s stock valued at $31,874,000 after purchasing an additional 32,423 shares during the last quarter. 65.38% of the stock is currently owned by institutional investors.

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About 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 Trade Desk (NASDAQ:TTD)

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