Trade Desk (NASDAQ:TTD) Price Target Cut to $98.00 by Analysts at BMO Capital Markets

Trade Desk (NASDAQ:TTD) had its target price cut by equities researchers at BMO Capital Markets from $115.00 to $98.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price points to a potential upside of 80.71% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. KeyCorp lifted their price target on shares of Trade Desk from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. JMP Securities reissued a “market outperform” rating and set a $100.00 price objective on shares of Trade Desk in a report on Tuesday, June 24th. Wedbush reissued an “outperform” rating and set a $86.00 price objective on shares of Trade Desk in a report on Tuesday, July 15th. Evercore ISI raised shares of Trade Desk from an “in-line” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Friday, June 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of Trade Desk in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.18.

Trade Desk Trading Down 38.6%

TTD stock traded down $34.10 during mid-day trading on Friday, reaching $54.23. The company’s stock had a trading volume of 105,069,220 shares, compared to its average volume of 21,501,666. The stock has a market cap of $26.65 billion, a PE ratio of 65.34, a P/E/G ratio of 2.46 and a beta of 1.37. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company’s 50 day moving average is $76.31 and its two-hundred day moving average is $72.70.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $694.04 million for the quarter, compared to analysts’ expectations of $686.00 million. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. On average, analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Trade Desk by 3,876.8% during the 1st quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company’s stock valued at $5,033,000 after buying an additional 89,671 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Trade Desk during the first quarter valued at approximately $995,000. LBP AM SA boosted its position in shares of Trade Desk by 116.1% during the first quarter. LBP AM SA now owns 64,154 shares of the technology company’s stock valued at $3,511,000 after purchasing an additional 34,465 shares in the last quarter. Bryce Point Capital LLC raised its stake in Trade Desk by 302.9% during the first quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company’s stock valued at $915,000 after buying an additional 12,575 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in Trade Desk by 40.2% during the first quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company’s stock valued at $31,731,000 after buying an additional 166,332 shares during the last quarter. Hedge funds and other 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.