UBS Group Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective reduced by research analysts at UBS Group from $105.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 53.49% from the company’s current price.

Several other research firms have also recently weighed in on TTD. Stifel Nicolaus lowered their price target on shares of Trade Desk from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Bank of America reissued an “underperform” rating and issued a $55.00 price target (down from $130.00) on shares of Trade Desk in a report on Friday, August 8th. Arete Research raised shares of Trade Desk to a “strong sell” rating in a report on Monday, July 28th. Wells Fargo & Company cut shares of Trade Desk from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Finally, Morgan Stanley increased their target price on shares of Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Hold” and a consensus price target of $88.58.

Trade Desk Stock Performance

Shares of TTD stock opened at $52.12 on Friday. The firm’s 50-day moving average is $74.22 and its 200-day moving average is $70.68. The stock has a market cap of $25.61 billion, a price-to-earnings ratio of 62.80, a PEG ratio of 2.67 and a beta of 1.37. 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 earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.24). The firm had revenue of $694.04 million during the quarter, compared to the consensus estimate of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Sell-side analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Trade Desk

Several large investors have recently modified their holdings of TTD. Brighton Jones LLC raised its stake in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after acquiring an additional 169 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Trade Desk by 1.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 43,438 shares of the technology company’s stock worth $5,105,000 after buying an additional 602 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Trade Desk during the fourth quarter worth $351,000. Bridgewater Associates LP bought a new position in Trade Desk during the fourth quarter worth $1,423,000. Finally, First Commonwealth Financial Corp PA bought a new position in Trade Desk during the fourth quarter worth $435,000. 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.