Trade Desk (NASDAQ:TTD) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Trade Desk (NASDAQ:TTD) from a strong-buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “

TTD has been the topic of a number of other research reports. Nomura restated a reduce rating and set a $144.00 price target on shares of Trade Desk in a research note on Wednesday, June 12th. Needham & Company LLC initiated coverage on shares of Trade Desk in a research note on Monday, April 22nd. They set a hold rating and a $211.03 price target on the stock. Raymond James restated an average rating and set a $4.50 price target on shares of John Hancock Financial Opprts Fund in a research note on Thursday, May 9th. Pivotal Research restated a buy rating and set a $265.00 price target (up previously from $255.00) on shares of Trade Desk in a research note on Wednesday, June 5th. Finally, TheStreet lowered shares of Trade Desk from a b- rating to a c- rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Trade Desk currently has a consensus rating of Buy and a consensus target price of $191.65.

Shares of Trade Desk stock opened at $248.16 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.62 and a quick ratio of 1.62. Trade Desk has a 12-month low of $83.66 and a 12-month high of $257.99. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 129.25, a price-to-earnings-growth ratio of 6.68 and a beta of 2.73. The company’s 50 day moving average is $232.89.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.42. Trade Desk had a net margin of 17.41% and a return on equity of 24.41%. The business had revenue of $121.00 million for the quarter, compared to analyst estimates of $117.13 million. During the same quarter in the prior year, the business posted $0.34 EPS. Trade Desk’s revenue for the quarter was up 41.2% compared to the same quarter last year. Equities research analysts anticipate that Trade Desk will post 1.83 EPS for the current fiscal year.

In related news, Director Thomas Falk sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. Following the sale, the director now owns 10,640 shares in the company, valued at $2,660,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $222.70, for a total transaction of $2,227,000.00. Following the sale, the chief executive officer now owns 103,392 shares in the company, valued at approximately $23,025,398.40. The disclosure for this sale can be found here. Insiders sold 105,340 shares of company stock worth $24,259,288 in the last quarter. Company insiders own 17.44% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Trade Desk by 78.1% during the fourth quarter. Raymond James & Associates now owns 29,807 shares of the technology company’s stock valued at $3,459,000 after purchasing an additional 13,075 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Trade Desk by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,062 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 220 shares in the last quarter. Northern Trust Corp lifted its holdings in Trade Desk by 2.7% during the fourth quarter. Northern Trust Corp now owns 421,712 shares of the technology company’s stock valued at $48,944,000 after purchasing an additional 11,083 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Trade Desk by 33.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,794 shares of the technology company’s stock valued at $425,000 after purchasing an additional 956 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Trade Desk by 95.3% during the fourth quarter. Hsbc Holdings PLC now owns 3,762 shares of the technology company’s stock valued at $437,000 after purchasing an additional 1,836 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

About Trade Desk

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

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