The Trade Desk (NASDAQ:TTD) Receives $33.91 Consensus PT from Brokerages

The Trade Desk (NASDAQ:TTD) has been assigned a consensus rating of “Hold” from the thirty-eight analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.9118.

Several analysts have recently commented on TTD shares. Morgan Stanley set a $26.00 target price on Trade Desk in a research report on Friday, May 8th. Loop Capital cut Trade Desk from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $25.00 in a research report on Thursday, February 26th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Trade Desk in a research report on Thursday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Trade Desk in a research report on Tuesday, March 17th. Finally, Guggenheim decreased their target price on Trade Desk from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Trade Desk Stock Down 9.1%

TTD opened at $21.11 on Friday. The firm has a market cap of $9.93 billion, a PE ratio of 23.99, a P/E/G ratio of 1.12 and a beta of 1.05. The business has a fifty day simple moving average of $22.25 and a 200-day simple moving average of $29.53. Trade Desk has a fifty-two week low of $19.74 and a fifty-two week high of $91.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.24). The company had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. On average, equities research analysts anticipate that Trade Desk will post 1.17 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, Director Kathryn E. Falberg sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $30.48, for a total value of $1,524,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samantha Jacobson sold 53,681 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $21.14, for a total value of $1,134,816.34. Following the completion of the transaction, the director owned 13,099 shares in the company, valued at $276,912.86. This trade represents a 80.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 206,509 shares of company stock valued at $5,789,929. 11.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Trade Desk by 271.1% in the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after purchasing an additional 26,559,005 shares during the period. Vanguard Group Inc. increased its stake in shares of Trade Desk by 27.7% in the third 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 during the period. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter worth about $197,550,000. Federated Hermes Inc. increased its stake in shares of Trade Desk by 1,041.1% in the fourth quarter. Federated Hermes Inc. now owns 4,710,847 shares of the technology company’s stock worth $178,824,000 after purchasing an additional 4,298,009 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in shares of Trade Desk by 676.6% in the fourth quarter. Voloridge Investment Management LLC now owns 4,208,083 shares of the technology company’s stock worth $159,739,000 after purchasing an additional 3,666,189 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.