Trade Desk (NASDAQ:TTD) Upgraded by BNP Paribas to “Hold” Rating

Trade Desk (NASDAQ:TTD) was upgraded by analysts at BNP Paribas to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Evercore ISI dropped their price objective on Trade Desk from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Jefferies Financial Group set a $40.00 price target on shares of Trade Desk and gave the stock a “hold” rating in a research note on Thursday, December 11th. Truist Financial cut their price target on shares of Trade Desk from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Cantor Fitzgerald set a $43.00 price objective on shares of Trade Desk and gave the stock a “neutral” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.62.

Trade Desk Price Performance

Shares of TTD stock opened at $36.23 on Wednesday. The company’s fifty day moving average price is $38.95 and its two-hundred day moving average price is $52.72. The firm has a market capitalization of $17.52 billion, a P/E ratio of 41.64, a P/E/G ratio of 1.46 and a beta of 1.11. Trade Desk has a 12 month low of $35.65 and a 12 month high of $126.20.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The business had revenue of $739.43 million for the quarter, compared to analyst estimates of $719.11 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Family Legacy Financial Solutions LLC boosted its position in Trade Desk by 163.2% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares during the period. Sound Income Strategies LLC lifted its stake in Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after buying an additional 270 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Trade Desk by 175.8% during the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after acquiring an additional 334 shares during the period. Root Financial Partners LLC bought a new position in shares of Trade Desk during the third quarter worth about $26,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Trade Desk by 2,382.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock worth $27,000 after acquiring an additional 691 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.