KeyCorp Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target cut by equities researchers at KeyCorp from $74.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 35.99% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. UBS Group boosted their price objective on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group reduced their price objective on Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and lowered their price objective for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Stifel Nicolaus cut their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.14.

Trade Desk Stock Down 9.0 %

Shares of TTD stock opened at $49.27 on Wednesday. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The company has a market cap of $24.44 billion, a PE ratio of 63.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The business’s 50 day moving average is $69.64 and its two-hundred day moving average is $104.06.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Arthur M. Cohen & Associates LLC increased its holdings in Trade Desk by 17.1% in the first quarter. Arthur M. Cohen & Associates LLC now owns 7,538 shares of the technology company’s stock valued at $412,000 after purchasing an additional 1,103 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Trade Desk in the 1st quarter valued at about $43,000. Lifestyle Asset Management Inc. increased its stake in shares of Trade Desk by 102.2% in the 1st quarter. Lifestyle Asset Management Inc. now owns 4,662 shares of the technology company’s stock valued at $255,000 after acquiring an additional 2,356 shares during the last quarter. Clare Market Investments LLC raised its position in shares of Trade Desk by 188.5% in the 1st quarter. Clare Market Investments LLC now owns 24,752 shares of the technology company’s stock valued at $1,354,000 after acquiring an additional 16,173 shares during the period. Finally, Teamwork Financial Advisors LLC boosted its stake in Trade Desk by 90.2% during the 1st quarter. Teamwork Financial Advisors LLC now owns 23,263 shares of the technology company’s stock worth $1,273,000 after acquiring an additional 11,032 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

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