UBS Group Raises Trade Desk Price Target to $150.00

Trade Desk (NASDAQ:TTD) recently received a positive update from UBS Group, who raised their price target for the company's shares from $140.00 to $150.00. This adjustment was made in a research report published on Friday, where the brokerage also reiterated a "buy" rating for the stock.

This new price target suggests that there is substantial growth potential for Trade Desk, indicating a potential upside of approximately 20.37% based on the stock's previous closing price.

Recent Analyst Updates

Other analysts have made notable adjustments to their assessments of Trade Desk’s stock as well. For instance, Robert W. Baird raised their price target from $130.00 to $140.00, giving it an "outperform" rating. Loop Capital similarly increased their target from $109.00 to $120.00 with a "buy" rating. Royal Bank of Canada also revised their target from $110.00 to $120.00 and maintained an "outperform" rating.

In contrast, New Street Research downgraded Trade Desk from a "neutral" to a "sell" rating, setting a target price of $86.00. Overall, while some analysts see value in Trade Desk, two analysts rated it as a sell, three issued a hold rating, twenty-five gave it a buy rating, and one analyst rated it as a strong buy. According to MarketBeat, Trade Desk boasts an average rating of "Moderate Buy" and a consensus target price of $120.58.

Current Market Performance

As of Friday, shares of Trade Desk experienced a decline of approximately 6.0%, dropping to $124.62 during mid-day trading. The volume of shares traded reached around 7.9 million, significantly higher than the average trading volume of about 3.8 million shares.

Trade Desk’s stock has shown considerable volatility over the past year, with a fifty-two week low of $60.23 and a fifty-two week high of $132.65. The company's market capitalization stands at $61.26 billion, with a price-to-earnings ratio of 250.68 and a price-to-earnings-growth ratio of 6.00.

Financial Performance

On August 8, Trade Desk reported earnings of $0.39 per share for the previous quarter, surpassing analysts' expectations of $0.36. The company generated revenue of $584.55 million, exceeding the estimated $578.03 million, reflecting a year-over-year increase of 25.9% in revenue.

Insider Activity

Insider trading has also been notable, with CFO Laura Schenkein selling 3,130 shares on August 16 at an average price of $99.33, totaling over $310,902. Following this transaction, she still holds nearly 694,000 shares of Trade Desk. Another insider, Samantha Jacobson, sold 4,872 shares for about $484,764. Over the past ninety days, insiders sold approximately 1.56 million shares valued at $170.1 million.

Institutional Ownership

Institutional investors own a significant portion of Trade Desk, with various firms adjusting their stakes recently. CAP Partners LLC increased their position by 1.4%, while Allworth Financial LP and Apella Capital LLC also boosted their holdings during the last quarter. Overall, 67.77% of the stock is held by institutional investors.

About Trade Desk

Trade Desk operates in the technology sector, providing a self-service cloud-based platform for buyers to plan and manage digital advertising campaigns across various media formats and devices.

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