Trade Desk (NASDAQ:TTD) Price Target Cut to $100.00 by Analysts at JMP Securities

Trade Desk (NASDAQ:TTD) had its target price reduced by JMP Securities from $115.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Cantor Fitzgerald decreased their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a research report on Friday. BMO Capital Markets lowered their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Truist Financial lowered their price objective on shares of Trade Desk from $130.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Price Performance

Trade Desk stock opened at $71.04 on Friday. The company has a market cap of $35.24 billion, a price-to-earnings ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The stock’s 50-day moving average is $54.62 and its 200-day moving average is $95.31.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm posted $0.26 earnings per share. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the fourth quarter valued at $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk during the 4th quarter valued at about $26,000. Banque Cantonale Vaudoise bought a new position in Trade Desk in the 1st quarter worth about $26,000. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $27,000. Finally, von Borstel & Associates Inc. bought a new stake in shares of Trade Desk during the first quarter valued at approximately $31,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.