Needham Believes Trade Desk (NASDAQ: TTD) Still Has Room to Grow

By Carrie Williams

In a report released today, Laura Martin from Needham assigned a Buy rating to Trade Desk (TTDResearch Report), with a price target of $1000.00. The company’s shares closed last Friday at $827.00, close to its 52-week high of $847.50.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 26.1% and a 65.9% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and Walt Disney.

Currently, the analyst consensus on Trade Desk is a Moderate Buy with an average price target of $778.67, which is a -3.7% downside from current levels. In a report issued on November 19, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $903.00 price target.

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Trade Desk’s market cap is currently $38.84B and has a P/E ratio of 282.30. The company has a Price to Book ratio of 46.65.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Trade Desk, Inc. is a technology company, which engages in the provision of technology platform for advertising buyers. It operates through United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces. The company was founded by Jeffrey Terry Green and David Pickles in November 2009 and is headquartered in Ventura, CA.