HSBC Reaffirms “Hold” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “hold” rating restated by research analysts at HSBC in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $56.00 target price on the technology company’s stock. HSBC’s price objective suggests a potential upside of 5.12% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Macquarie increased their target price on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Piper Sandler decreased their target price on Trade Desk from $65.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Citizens Jmp decreased their target price on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Oppenheimer increased their target price on Trade Desk from $80.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Finally, Scotiabank decreased their target price on Trade Desk from $83.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, August 8th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.33.

Trade Desk Stock Performance

Shares of TTD stock opened at $53.27 on Monday. The firm’s 50 day moving average price is $75.45 and its 200-day moving average price is $72.10. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The firm has a market cap of $26.18 billion, a P/E ratio of 64.18, a P/E/G ratio of 2.74 and a beta of 1.37.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The company had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. As a group, research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the transaction, the insider owned 218,246 shares in the company, valued at $19,899,670.28. This trade represents a 19.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Trade Desk in the first quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of Trade Desk by 317.6% in the second 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 stake in shares of Trade Desk in the first quarter valued at approximately $27,000. Finally, von Borstel & Associates Inc. purchased a new stake in shares of Trade Desk in the first quarter valued at approximately $31,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.