Trade Desk’s (TTD) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Trade Desk (NASDAQ:TTD) in a report issued on Tuesday morning,Benzinga reports. Wedbush currently has a $15.00 price objective on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. Susquehanna reaffirmed a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of Trade Desk in a research report on Tuesday. Truist Financial set a $17.00 price objective on Trade Desk and gave the company a “hold” rating in a report on Tuesday. UBS Group restated a “buy” rating and set a $19.00 price objective (up from $15.00) on shares of Trade Desk in a research note on Tuesday. Wall Street Zen downgraded Trade Desk from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald lowered their price target on Trade Desk from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $18.52.

Trade Desk Trading Down 3.2%

Shares of NASDAQ:TTD opened at $15.47 on Tuesday. The firm has a market cap of $7.27 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The company has a fifty day simple moving average of $13.19 and a 200 day simple moving average of $19.21. Trade Desk has a 12-month low of $11.62 and a 12-month high of $43.86.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. Trade Desk had a net margin of 11.03% and a return on equity of 14.36%. The firm had revenue of $735.97 million for the quarter, compared to the consensus estimate of $650.93 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Trade Desk will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. Ascentis Independent Advisors bought a new position in Trade Desk in the first quarter worth about $36,000. NBH Bank bought a new position in shares of Trade Desk during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of Trade Desk by 159.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,247 shares during the last quarter. South Dakota Investment Council acquired a new stake in shares of Trade Desk during the 1st quarter worth approximately $54,000. Finally, Western Wealth Management LLC bought a new stake in shares of Trade Desk in the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trending Headlines about Trade Desk

Here are a few of the latest headlines about TTD:

• Positive Sentiment: Analyst sentiment has included multiple price-target increases after the earnings report; at least 14 analysts reportedly raised targets, adding a source of support for the stock. Trade Desk Stock Boosted by Wall Street Optimism Following Earnings Beat
• Negative Sentiment: Revenue fell 0.5% year over year, a sharp slowdown from the prior-year growth rate. Reports also flagged profit and margin compression, a restructuring charge and questions about revenue composition. The Trade Desk Beats on Revenue, But the Fine Print Matters
• Negative Sentiment: Competition and advertising-market headwinds remain risks, tempering confidence that stronger Q4 guidance will translate into a sustained growth recovery. Competitive Headwinds Keep Coming For The Trade Desk

About Trade Desk

The Trade Desk, Inc. provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display. The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.