Cantor Fitzgerald Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective boosted by Cantor Fitzgerald from $14.00 to $15.00 in a report published on Wednesday morning, Marketbeat.com reports. The firm currently has a neutral rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. Scotiabank increased their price objective on Trade Desk from $12.00 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday. Wells Fargo & Company set a $12.00 price target on Trade Desk and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Benchmark reissued a “buy” rating and issued a $20.00 price target (down from $30.00) on shares of Trade Desk in a research note on Monday, August 3rd. Cannonball Research lowered Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Friday, August 7th. Finally, UBS Group reissued a “buy” rating and set a $19.00 price target (up from $15.00) on shares of Trade Desk in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $18.52.

Trade Desk Stock Up 3.6%

TTD stock opened at $15.98 on Wednesday. The stock has a market cap of $7.51 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98. The firm’s 50-day simple moving average is $13.17 and its 200 day simple moving average is $19.31. Trade Desk has a fifty-two week low of $11.62 and a fifty-two week high of $45.50.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Monday, November 9th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. The firm had revenue of $735.97 million during the quarter, compared to analyst estimates of $650.93 million. Trade Desk had a net margin of 11.03% and a return on equity of 14.36%. Trade Desk’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. Equities analysts forecast that Trade Desk will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in Trade Desk by 59.0% during the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock valued at $123,446,000 after purchasing an additional 2,018,525 shares in the last quarter. Bank of America Corp DE boosted its position in Trade Desk by 33.5% during the first quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock valued at $103,214,000 after purchasing an additional 1,141,704 shares during the last quarter. Amundi raised its stake 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 worth $69,348,000 after purchasing an additional 17,097 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Trade Desk during the 2nd quarter valued at about $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 valued at $33,961,000 after buying an additional 1,148,680 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Key Headlines Impacting Trade Desk

Here are a few of the latest headlines about TTD:

• Positive Sentiment: Q3 revenue of about $736 million exceeded expectations and management’s forecast, while adjusted earnings also beat estimates. The company projected about $755 million in Q4 revenue, helping support optimism that business may be stabilizing. Trade Desk’s $736M Q3 Revenues: Is a Growth Recovery Taking Shape?
• Neutral Sentiment: Several firms raised price targets after the results, but Wells Fargo, Piper Sandler and Cantor Fitzgerald maintained equal-weight or neutral ratings, signaling limited conviction in a near-term recovery. Wells Fargo price-target update
• Negative Sentiment: Revenue was down 0.5% year over year, a sharp slowdown from prior growth, and quarterly profit reportedly fell substantially as margins came under pressure. Investors remain concerned about advertising-market conditions, competition and whether the company can restore growth. The Trade Desk Beats on Revenue, But the Fine Print Matters

Trade Desk Company Profile

The Trade Desk, Inc. provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display. The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.