Trade Desk (NASDAQ:TTD) Price Target Lowered to $40.00 at Bank of America

Trade Desk (NASDAQ:TTD) had its price target trimmed by Bank of America from $49.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an underperform rating on the technology company’s stock.

A number of other research analysts also recently weighed in on TTD. Cantor Fitzgerald set a $43.00 target price on Trade Desk and gave the stock a “neutral” rating in a report on Thursday, January 8th. Wells Fargo & Company set a $42.00 price target on Trade Desk and gave the company an “equal weight” rating in a research report on Monday, January 12th. Benchmark upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Friday, November 7th. Guggenheim reissued a “buy” rating and set a $50.00 price objective (down previously from $55.00) on shares of Trade Desk in a research report on Monday, January 5th. Finally, Needham & Company LLC dropped their target price on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $67.41.

Trade Desk Stock Down 3.7%

NASDAQ:TTD opened at $34.15 on Tuesday. The firm’s fifty day simple moving average is $38.44 and its 200 day simple moving average is $51.62. The stock has a market cap of $16.51 billion, a P/E ratio of 39.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Trade Desk has a twelve month low of $34.00 and a twelve month high of $126.20.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Trade Desk

Several institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after buying an additional 169 shares in the last quarter. Bison Wealth LLC raised its holdings in Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock worth $291,000 after acquiring an additional 485 shares during the last quarter. Woodline Partners LP lifted its position in Trade Desk by 75.5% in the 1st quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock valued at $289,000 after acquiring an additional 2,269 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Trade Desk by 5.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 82,606 shares of the technology company’s stock valued at $6,147,000 after acquiring an additional 3,917 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Trade Desk by 22.7% during the 2nd quarter. UMB Bank n.a. now owns 2,003 shares of the technology company’s stock valued at $144,000 after purchasing an additional 371 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.