Trade Desk (NASDAQ:TTD – Get Free Report) had its price objective reduced by equities research analysts at KeyCorp from $40.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 50.72% from the company’s previous close.
TTD has been the topic of a number of other research reports. Cannonball Research upgraded Trade Desk to a “strong-buy” rating in a research report on Monday, January 12th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective (down from $65.00) on shares of Trade Desk in a research note on Monday, February 23rd. Bank of America decreased their target price on shares of Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a research report on Tuesday, January 20th. Evercore restated an “outperform” rating on shares of Trade Desk in a report on Monday, February 23rd. Finally, Loop Capital lowered shares of Trade Desk from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $25.00 in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Hold” and a consensus price target of $44.55.
Read Our Latest Analysis on TTD
Trade Desk Price Performance
Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The firm had revenue of $846.79 million during the quarter, compared to the consensus estimate of $840.56 million. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Trade Desk will post 1.06 EPS for the current year.
Trade Desk announced that its board has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Institutional Investors Weigh In On Trade Desk
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Trade Desk by 27.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after purchasing an additional 12,321,000 shares in the last quarter. State Street Corp raised its stake in Trade Desk by 271.1% during the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after buying an additional 26,559,005 shares during the period. Geode Capital Management LLC boosted its holdings in Trade Desk by 52.1% in the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock worth $884,860,000 after acquiring an additional 4,218,975 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Trade Desk by 2.7% in the second quarter. Brown Advisory Inc. now owns 8,323,522 shares of the technology company’s stock worth $599,212,000 after acquiring an additional 221,228 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Trade Desk by 101.0% in the third quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock valued at $333,659,000 after acquiring an additional 3,421,074 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Trade Desk
Here are the key news stories impacting Trade Desk this week:
- Positive Sentiment: The Trade Desk launched the Ventura CTV Ecosystem — a partnership with TV OSes and ad-tech platforms using TTD’s identity and transparency tools to create a more efficient, revenue-optimized programmatic CTV marketplace; this could help restore advertiser trust and drive CTV monetization over time. Trade Desk’s Ventura CTV Ecosystem Tests Strength Of Independent Model
- Neutral Sentiment: TTD was highlighted in a Seeking Alpha “Undercovered Dozen” roundup — increased coverage can attract investor attention but doesn’t immediately change fundamentals. Undercovered Dozen: Blue Owl Capital, The Trade Desk, Applied Optoelectronics And More
- Negative Sentiment: A broad set of brokerages cut price targets on TTD (RBC, Oppenheimer, Wells Fargo, UBS, DA Davidson, BMO, Truist, Needham, Stifel, Rosenblatt), signaling reduced near-term expectations and contributing to selling pressure. Royal Bank Of Canada Cuts Trade Desk (NASDAQ:TTD) Price Target to $40.00 Oppenheimer Cuts Trade Desk (NASDAQ:TTD) Price Target to $35.00 Wells Fargo & Company Cuts Trade Desk (NASDAQ:TTD) Price Target to $25.00 UBS Group Cuts Trade Desk (NASDAQ:TTD) Price Target to $44.00 DA Davidson Cuts Trade Desk (NASDAQ:TTD) Price Target to $32.00 BMO Capital Markets Cuts Trade Desk (NASDAQ:TTD) Price Target to $55.00 Truist Financial Cuts Trade Desk (NASDAQ:TTD) Price Target to $50.00 Needham & Company LLC Cuts Trade Desk (NASDAQ:TTD) Price Target to $32.00 Stifel Nicolaus Cuts Trade Desk (NASDAQ:TTD) Price Target to $48.00 Rosenblatt Securities Cuts Trade Desk (NASDAQ:TTD) Price Target to $36.00
- Negative Sentiment: TipRanks flagged a new operational/reputational risk around evolving impression-counting standards and disputes — this could pressure margins or client trust if industry standards shift or disputes rise. Evolving Impression Standards Raise Operational and Reputational Risks for The Trade Desk
Trade Desk Company Profile
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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