Royal Bank of Canada Lowers Trade Desk (NASDAQ:TTD) Price Target to $85.00

Trade Desk (NASDAQ:TTD) had its price objective dropped by research analysts at Royal Bank of Canada from $100.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 57.15% from the company’s current price.

Several other equities analysts also recently commented on TTD. Susquehanna decreased their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. HSBC set a $75.00 price objective on Trade Desk and gave the company a “buy” rating in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Cfra Research upgraded shares of Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.84.

Trade Desk Trading Up 1.9 %

TTD stock opened at $54.09 on Friday. The firm has a market capitalization of $26.83 billion, a PE ratio of 69.35, a PEG ratio of 3.11 and a beta of 1.29. The business’s 50 day simple moving average is $55.63 and its 200 day simple moving average is $97.18. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 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, sell-side analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk in the 4th quarter valued at $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the 4th quarter worth about $26,000. Harbor Investment Advisory LLC lifted its stake in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the fourth quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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.