Royal Bank Of Canada Lowers Trade Desk (NASDAQ:TTD) Price Target to $90.00

Trade Desk (NASDAQ:TTD) had its price objective lowered by research analysts at Royal Bank Of Canada from $100.00 to $90.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 65.96% from the company’s current price.

Several other analysts also recently issued reports on TTD. Evercore ISI raised shares of Trade Desk from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Friday, June 27th. JMP Securities reissued a “market outperform” rating and issued a $100.00 price target on shares of Trade Desk in a research report on Tuesday, June 24th. BTIG Research downgraded shares of Trade Desk from a “buy” rating to a “neutral” rating in a research report on Friday. DA Davidson reduced their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Arete Research raised shares of Trade Desk to a “strong sell” rating in a research report on Monday, July 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.18.

Trade Desk Stock Down 38.6%

Shares of TTD stock opened at $54.23 on Friday. The company has a market cap of $26.65 billion, a price-to-earnings ratio of 65.34, a price-to-earnings-growth ratio of 2.46 and a beta of 1.37. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a 50 day moving average of $76.31 and a 200-day moving average of $73.02.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.10% and a net margin of 15.57%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer owned 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV purchased a new position in Trade Desk during the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new position in Trade Desk during the 1st quarter valued at about $26,000. Sound Income Strategies LLC grew its holdings in Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after buying an additional 270 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Trade Desk during the 1st quarter valued at about $27,000. Finally, von Borstel & Associates Inc. purchased a new position in Trade Desk during the 1st quarter valued at about $31,000. Institutional investors 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.