The Trade Desk (NASDAQ:TTD) Receives $58.94 Consensus Price Target from Brokerages

The Trade Desk (NASDAQ:TTD) has been given a consensus rating of “Hold” by the thirty-five research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $58.9355.

TTD has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Trade Desk from $49.00 to $40.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 20th. Evercore decreased their target price on shares of Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Zacks Research upgraded shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Citizens Jmp downgraded shares of Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, January 23rd. Finally, Cfra restated a “hold” rating and issued a $40.00 price objective on shares of Trade Desk in a report on Tuesday, January 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Trade Desk by 27.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after buying an additional 12,321,000 shares during the last quarter. State Street Corp grew its stake in shares of Trade Desk by 271.1% in the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after acquiring an additional 26,559,005 shares during the period. Jennison Associates LLC grew its stake in shares of Trade Desk by 17.9% in the second quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after acquiring an additional 2,169,252 shares during the period. Geode Capital Management LLC raised its holdings in shares of Trade Desk by 52.1% during the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after purchasing an additional 4,218,975 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Trade Desk by 2.7% during the second quarter. Brown Advisory Inc. now owns 8,323,522 shares of the technology company’s stock valued at $599,212,000 after purchasing an additional 221,228 shares during the period. 67.77% of the stock is owned by institutional investors.

Trade Desk Trading Down 0.6%

Shares of NASDAQ:TTD opened at $25.10 on Friday. The stock has a fifty day simple moving average of $33.53 and a two-hundred day simple moving average of $42.99. Trade Desk has a 12-month low of $24.84 and a 12-month high of $91.45. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 0.99 and a beta of 1.10.

Trade Desk announced that its board has approved a share buyback program on Thursday, November 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.