Trade Desk (NASDAQ:TTD) Reaches New 1-Year Low – Here’s What Happened

The Trade Desk (NASDAQ:TTD) reached a new 52-week low on Monday. The stock traded as low as $11.74 and last traded at $11.8710, with a volume of 4091529 shares trading hands. The stock had previously closed at $11.95.

Wall Street Analyst Weigh In

TTD has been the subject of several research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Trade Desk in a report on Tuesday, September 8th. Cantor Fitzgerald dropped their price target on Trade Desk from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. HSBC downgraded Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price target for the company. in a research note on Monday, August 10th. Susquehanna lowered shares of Trade Desk from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $14.00 in a research report on Friday, August 7th. Finally, Evercore set a $14.00 price objective on shares of Trade Desk in a research note on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $18.19.

Trade Desk Stock Down 0.5%

The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The business has a 50 day moving average of $14.21 and a 200 day moving average of $18.45.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts predict that The Trade Desk will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of the company. MCF Advisors LLC grew its stake in Trade Desk by 318.0% in the 4th quarter. MCF Advisors LLC now owns 1,024 shares of the technology company’s stock worth $39,000 after acquiring an additional 779 shares during the period. AG Campbell Advisory LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $42,000. Root Financial Partners LLC boosted its holdings in shares of Trade Desk by 219.4% during the first quarter. Root Financial Partners LLC now owns 1,319 shares of the technology company’s stock worth $30,000 after purchasing an additional 906 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Trade Desk during the first quarter worth $36,000. Finally, NBH Bank purchased a new stake in shares of Trade Desk in the second quarter valued at $30,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.