Trade Desk (NASDAQ:TTD) Price Target Cut to $85.00

Trade Desk (NASDAQ:TTDGet Rating) had its price target cut by Royal Bank of Canada from $105.00 to $85.00 in a research note issued on Monday, The Fly reports. Royal Bank of Canada’s price target indicates a potential upside of 73.75% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Susquehanna increased their target price on Trade Desk from $115.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, February 17th. Susquehanna Bancshares increased their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, February 17th. Guggenheim began coverage on Trade Desk in a report on Wednesday, March 2nd. They set a “buy” rating and a $108.00 price objective for the company. Benchmark initiated coverage on shares of Trade Desk in a report on Tuesday, March 1st. They issued a “hold” rating on the stock. Finally, KeyCorp cut their price target on shares of Trade Desk from $102.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $98.72.

Shares of Trade Desk stock opened at $48.92 on Monday. Trade Desk has a 52-week low of $46.71 and a 52-week high of $114.09. The firm has a market capitalization of $23.72 billion, a PE ratio of 171.65, a price-to-earnings-growth ratio of 11.17 and a beta of 2.15. The company’s fifty day moving average price is $65.60 and its two-hundred day moving average price is $77.85.

Trade Desk (NASDAQ:TTDGet Rating) last issued its earnings results on Wednesday, February 16th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Trade Desk had a net margin of 11.51% and a return on equity of 10.77%. The business had revenue of $395.60 million for the quarter, compared to analyst estimates of $389.64 million. During the same quarter last year, the firm posted $0.29 earnings per share. Trade Desk’s revenue was up 23.7% on a year-over-year basis. As a group, sell-side analysts forecast that Trade Desk will post 0.18 EPS for the current year.

In other Trade Desk news, Director Eric B. Paley sold 7,500 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $83.16, for a total transaction of $623,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,633 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $74.05, for a total value of $713,323.65. The disclosure for this sale can be found here. Insiders sold a total of 23,217 shares of company stock worth $1,778,114 over the last quarter. Corporate insiders own 10.79% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Trade Desk by 21.6% in the third quarter. Morgan Stanley now owns 25,373,248 shares of the technology company’s stock worth $1,783,739,000 after purchasing an additional 4,509,355 shares during the period. LPL Financial LLC raised its stake in Trade Desk by 6.3% during the 3rd quarter. LPL Financial LLC now owns 590,558 shares of the technology company’s stock worth $41,516,000 after buying an additional 35,165 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in Trade Desk by 9.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 2,250 shares of the technology company’s stock worth $206,000 after acquiring an additional 200 shares in the last quarter. CIBC Asset Management Inc grew its stake in Trade Desk by 12.4% in the fourth quarter. CIBC Asset Management Inc now owns 21,722 shares of the technology company’s stock valued at $1,991,000 after acquiring an additional 2,403 shares during the period. Finally, Quest Investment Management LLC increased its holdings in shares of Trade Desk by 16.9% in the third quarter. Quest Investment Management LLC now owns 195,336 shares of the technology company’s stock worth $13,732,000 after acquiring an additional 28,265 shares in the last quarter. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Company Profile (Get Rating)

Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

Further Reading

The Fly logo

Analyst Recommendations for Trade Desk (NASDAQ:TTD)

Receive News & Ratings for Trade Desk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trade Desk and related companies with MarketBeat.com's FREE daily email newsletter.