Rosenblatt Securities Initiates Coverage on Trade Desk (NASDAQ:TTD)

Analysts at Rosenblatt Securities began coverage on shares of Trade Desk (NASDAQ:TTD) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $77.00 price target on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 43.58% from the stock’s previous close.

TTD has been the topic of a number of other research reports. Piper Sandler initiated coverage on Trade Desk in a research note on Thursday, April 17th. They set a “neutral” rating and a $55.00 target price on the stock. Wedbush upped their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Cfra Research raised Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. BMO Capital Markets cut their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and cut their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.32.

Trade Desk Stock Down 1.9 %

TTD stock opened at $53.63 on Tuesday. The company has a fifty day simple moving average of $56.47 and a two-hundred day simple moving average of $98.21. The firm has a market capitalization of $26.61 billion, a P/E ratio of 68.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate 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, analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV purchased a new position in Trade Desk in the 4th quarter worth $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter worth $26,000. Harbor Investment Advisory LLC raised its stake in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.