Trade Desk (NASDAQ:TTD) Shares Break Above Fifty Day Moving Average – What’s Next?

The Trade Desk (NASDAQ:TTD) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $13.08 and traded as high as $13.68. Trade Desk shares last traded at $13.23, with a volume of 15,001,223 shares changing hands.

Key Trade Desk News

Here are the key news stories impacting Trade Desk this week:

• Neutral Sentiment: TTD’s rise came amid a broader market upswing and a rebound in beaten-down ad-tech shares, suggesting market sentiment contributed to the move rather than a new company-specific financial announcement. Article: The Trade Desk Beats Stock Market Upswing
• Neutral Sentiment: Co-founder and former CTO Dave Pickles is returning in an expanded technology leadership role, where he will lead a new CTO Council and advise engineering and product teams. The move may support product development, though its financial impact is not yet clear. Article: The Trade Desk Strengthens Leadership Bench
• Negative Sentiment: Investors are watching for weak ad budgets in key categories to weigh on Q3 results. CTV and retail media could provide support, but expectations around the report remain a source of uncertainty. Article: The Trade Desk to Release Q3 Earnings
• Negative Sentiment: Recent investor commentary has also focused on slowing growth and weaker guidance, which may temper enthusiasm even as some investors assess whether the shares are undervalued. Article: Is Trade Desk Undervalued Following Slowing Growth and Weaker Guidance?

Analysts Set New Price Targets

TTD has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $15.00 target price on shares of Trade Desk in a research report on Wednesday, September 9th. BMO Capital Markets lowered shares of Trade Desk from an “outperform” rating to a “market perform” rating and set a $15.00 price target on the stock. in a research report on Friday, August 7th. Raymond James Financial cut shares of Trade Desk from a “market perform” rating to an “underperform” rating in a research note on Friday, August 7th. Rosenblatt Securities cut their price objective on shares of Trade Desk from $24.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Finally, Needham & Company LLC reduced their price objective on shares of Trade Desk from $25.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Reduce” and an average target price of $18.16.

Trade Desk Stock Performance

The firm has a market cap of $6.22 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.39 and a beta of 0.98. The firm has a 50 day simple moving average of $13.08 and a 200 day simple moving average of $19.84.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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 company had revenue of $715.06 million for the quarter, compared to the consensus estimate of $752.41 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that The Trade Desk will post 0.52 EPS for the current fiscal year.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Renaissance Technologies LLC grew its stake in Trade Desk by 59.0% in the 1st quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock worth $123,446,000 after buying an additional 2,018,525 shares in the last quarter. Bank of America Corp DE raised its position in shares of Trade Desk by 33.5% during the 1st quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock valued at $103,214,000 after buying an additional 1,141,704 shares in the last quarter. Amundi raised its position in shares of Trade Desk by 0.6% during the 1st quarter. Amundi now owns 3,056,305 shares of the technology company’s stock valued at $69,348,000 after buying an additional 17,097 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Trade Desk during the 2nd quarter worth $39,750,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Trade Desk by 330.0% during the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock worth $33,961,000 after acquiring an additional 1,148,680 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that provides a cloud-based platform for digital advertising. Its demand-side platform enables advertisers and advertising agencies to plan, purchase, optimize and measure programmatic campaigns across channels including connected television, display, mobile, audio, native advertising and digital out-of-home media.

The company’s platform is designed to help clients use data and automated bidding to reach audiences across websites, applications, streaming services and other digital properties.