Trade Desk (NASDAQ:TTD) Price Target Lowered to $24.00 at Wells Fargo & Company

Trade Desk (NASDAQ:TTD) had its target price lowered by Wells Fargo & Company from $25.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts have also commented on TTD. Bank of America dropped their price target on Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a research note on Tuesday, January 20th. BNP Paribas Exane initiated coverage on Trade Desk in a research note on Wednesday, January 14th. They set a “neutral” rating and a $40.00 price target for the company. New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $17.00 price target for the company. in a research note on Thursday, February 26th. Truist Financial dropped their price target on Trade Desk from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Scotiabank restated a “sector perform” rating and set a $32.00 price target (down from $60.00) on shares of Trade Desk in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Hold” and a consensus target price of $41.91.

Trade Desk Trading Up 0.7%

NASDAQ TTD opened at $22.21 on Monday. The business’s 50-day moving average price is $25.70 and its 200 day moving average price is $36.90. Trade Desk has a twelve month low of $21.03 and a twelve month high of $91.45. The company has a market capitalization of $10.57 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.18.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.89% and a net margin of 15.31%.The firm had revenue of $846.79 million for the quarter, compared to the consensus estimate of $840.56 million. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, Director Kathryn E. Falberg sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $1,524,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently bought and sold shares of TTD. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Trade Desk by 62.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,743 shares of the technology company’s stock worth $8,515,000 after acquiring an additional 66,672 shares in the last quarter. Jacobson & Schmitt Advisors LLC grew its position in shares of Trade Desk by 19.6% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 289,574 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 47,539 shares in the last quarter. State of Michigan Retirement System acquired a new position in shares of Trade Desk in the 3rd quarter worth approximately $5,906,000. Amalgamated Bank grew its position in shares of Trade Desk by 190.1% in the 3rd quarter. Amalgamated Bank now owns 97,918 shares of the technology company’s stock worth $4,799,000 after acquiring an additional 64,159 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Trade Desk by 325.9% in the 3rd quarter. Principal Financial Group Inc. now owns 482,666 shares of the technology company’s stock worth $23,655,000 after acquiring an additional 369,345 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.