The Trade Desk (NASDAQ:TTD) Stock Has Consensus Price Target of $18.16 According to Analysts

Shares of The Trade Desk (NASDAQ:TTD) have received an average recommendation of “Reduce” from the thirty-nine analysts that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a sell rating, twenty-six have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.16.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley set a $13.00 price objective on shares of Trade Desk in a research report on Monday, August 10th. Guggenheim restated a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Trade Desk in a research report on Friday, September 18th. Cannonball Research cut shares of Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $15.00 price target on shares of Trade Desk in a report on Wednesday, September 9th. Finally, Cantor Fitzgerald reduced their price target on Trade Desk from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently added to or reduced their stakes in the business. Putney Financial Group LLC acquired a new position in Trade Desk during the third quarter worth approximately $75,000. Oregon Public Employees Retirement Fund raised its stake in Trade Desk by 82.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 95,700 shares of the technology company’s stock worth $1,165,000 after purchasing an additional 43,266 shares during the period. Salomon & Ludwin LLC purchased a new position in Trade Desk during the third quarter worth approximately $51,000. Greenleaf Trust acquired a new position in shares of Trade Desk in the 3rd quarter valued at $136,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Trade Desk in the 3rd quarter valued at $94,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 5.9%

TTD opened at $12.29 on Wednesday. The firm has a market cap of $5.77 billion, a P/E ratio of 14.63, a PEG ratio of 1.41 and a beta of 1.00. Trade Desk has a 52 week low of $11.62 and a 52 week high of $50.79. The business’s fifty day simple moving average is $13.10 and its 200 day simple moving average is $20.20.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The company had revenue of $715.06 million for the quarter, compared to analysts’ expectations of $752.41 million. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, equities analysts expect that Trade Desk will post 0.52 EPS for the current fiscal year.

About Trade Desk

The Trade Desk, Inc is a technology company that provides a cloud-based platform for digital advertising. Its demand-side platform enables advertisers and advertising agencies to plan, purchase, optimize and measure programmatic campaigns across channels including connected television, display, mobile, audio, native advertising and digital out-of-home media.

The company’s platform is designed to help clients use data and automated bidding to reach audiences across websites, applications, streaming services and other digital properties.