Royal Bank of Canada Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target reduced by Royal Bank of Canada from $100.00 to $85.00 in a research note issued to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on Trade Desk in a report on Thursday, April 17th. They set a “neutral” rating and a $55.00 target price on the stock. Robert W. Baird lowered their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Citigroup reduced their price objective on shares of Trade Desk from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, BMO Capital Markets lowered their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.84.

Trade Desk Stock Up 1.9 %

Trade Desk stock opened at $54.09 on Friday. The stock has a market cap of $26.83 billion, a price-to-earnings ratio of 69.35, a P/E/G ratio of 3.11 and a beta of 1.56. Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The business’s 50-day simple moving average is $55.63 and its 200 day simple moving average is $97.33.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Focus Financial Network Inc. increased its holdings in Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after buying an additional 84 shares during the last quarter. RMR Wealth Builders increased its stake in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares during the period. TFB Advisors LLC grew its holdings in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares during the period. Finally, Centurion Wealth Management LLC increased its position in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after buying an additional 96 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

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.