Wedbush Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price target lifted by equities researchers at Wedbush from $135.00 to $145.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 19.43% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Oppenheimer raised their price target on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC raised their target price on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. BTIG Research upped their price target on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective for the company. Finally, Wells Fargo & Company began coverage on shares of Trade Desk in a research note on Monday, October 28th. They issued an “overweight” rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.48.

Trade Desk Stock Performance

Shares of TTD stock opened at $121.41 on Monday. The firm has a fifty day moving average of $126.71 and a 200-day moving average of $111.63. Trade Desk has a 52-week low of $61.47 and a 52-week high of $141.53. The stock has a market cap of $59.92 billion, a price-to-earnings ratio of 199.03, a P/E/G ratio of 6.00 and a beta of 1.45.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. CAP Partners LLC lifted its position in shares of Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after buying an additional 97 shares during the period. Avior Wealth Management LLC grew its stake in Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Advisory Resource Group raised its holdings in Trade Desk by 1.0% in the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 101 shares during the period. Finally, HM Payson & Co. lifted its holdings in Trade Desk by 1.0% during the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

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.