Trade Desk (NASDAQ:TTD) Reaches New 12-Month Low – Here’s What Happened

The Trade Desk (NASDAQ:TTD) shares reached a new 52-week low on Thursday . The stock traded as low as $37.27 and last traded at $37.2470, with a volume of 5025509 shares trading hands. The stock had previously closed at $39.22.

Analysts Set New Price Targets

TTD has been the subject of a number of research analyst reports. Jefferies Financial Group set a $40.00 target price on shares of Trade Desk and gave the stock a “hold” rating in a research note on Thursday. JMP Securities set a $60.00 price objective on Trade Desk and gave the company a “market outperform” rating in a research report on Tuesday, September 30th. Guggenheim set a $55.00 price target on Trade Desk and gave the company a “buy” rating in a research note on Monday, September 29th. Evercore ISI lowered their price objective on Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Finally, Wedbush dropped their price objective on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Twenty-one analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $76.56.

Trade Desk Stock Down 1.0%

The business has a fifty day moving average of $45.48 and a 200 day moving average of $58.36. The firm has a market cap of $17.72 billion, a P/E ratio of 42.13, a P/E/G ratio of 1.84 and a beta of 1.07.

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

Trade Desk announced that its board has authorized a stock buyback program on Thursday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after acquiring an additional 169 shares in the last quarter. Bison Wealth LLC raised its position in shares of Trade Desk by 24.3% during the fourth quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock worth $291,000 after purchasing an additional 485 shares during the period. Callan Family Office LLC lifted its holdings in shares of Trade Desk by 16.4% during the 1st quarter. Callan Family Office LLC now owns 8,042 shares of the technology company’s stock valued at $440,000 after purchasing an additional 1,133 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Trade Desk by 6.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 133,409 shares of the technology company’s stock valued at $7,320,000 after purchasing an additional 7,620 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Trade Desk by 19.4% during the 1st quarter. Russell Investments Group Ltd. now owns 596,282 shares of the technology company’s stock worth $32,735,000 after purchasing an additional 96,680 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 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.