Trade Desk (NASDAQ:TTD) Downgraded to Hold Rating by Loop Capital

Trade Desk (NASDAQ:TTDGet Free Report) was downgraded by stock analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Thursday,Finviz reports. They currently have a $25.00 price objective on the technology company’s stock. Loop Capital’s target price would suggest a potential downside of 0.64% from the company’s current price.

TTD has been the topic of several other reports. Wells Fargo & Company set a $42.00 price objective on Trade Desk and gave the company an “equal weight” rating in a report on Monday, January 12th. Guggenheim restated a “buy” rating and issued a $50.00 price objective (down from $55.00) on shares of Trade Desk in a report on Monday, January 5th. UBS Group reiterated a “buy” rating and issued a $50.00 price objective (down from $82.00) on shares of Trade Desk in a research note on Tuesday, January 20th. Jefferies Financial Group set a $40.00 price target on shares of Trade Desk and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Needham & Company LLC dropped their price target on Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Trade Desk has a consensus rating of “Hold” and a consensus price target of $55.36.

Check Out Our Latest Research Report on Trade Desk

Trade Desk Stock Up 0.9%

Shares of Trade Desk stock opened at $25.16 on Thursday. Trade Desk has a 52-week low of $23.78 and a 52-week high of $91.45. The firm’s 50 day moving average price is $32.81 and its 200-day moving average price is $42.22. The company has a market cap of $12.17 billion, a P/E ratio of 28.92, a PEG ratio of 0.98 and a beta of 1.10.

Trade Desk (NASDAQ:TTDGet Free Report) last released its earnings results on Wednesday, February 25th. The technology company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company had revenue of $846.79 million during the quarter, compared to analysts’ expectations of $840.56 million. During the same period last year, the business earned $0.59 EPS. Trade Desk’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Transce3nd LLC purchased a new position in shares of Trade Desk during the 2nd quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Trade Desk during the 2nd quarter worth $28,000. Estabrook Capital Management acquired a new stake in shares of Trade Desk in the 2nd quarter valued at about $36,000. Family Legacy Financial Solutions LLC raised its stake in Trade Desk by 163.2% during the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after buying an additional 310 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Trade Desk by 175.8% during the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after buying an additional 334 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Key Stories Impacting Trade Desk

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

About Trade Desk

(Get Free Report)

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.

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Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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