Trade Desk (NASDAQ:TTD) Hits New 52-Week Low – Here’s Why

The Trade Desk (NASDAQ:TTD) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $24.27 and last traded at $24.6590, with a volume of 1534259 shares changing hands. The stock had previously closed at $25.10.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TTD shares. Cantor Fitzgerald set a $43.00 price target on Trade Desk and gave the company a “neutral” rating in a research report on Thursday, January 8th. Truist Financial set a $60.00 price objective on Trade Desk and gave the company a “buy” rating in a research report on Monday, January 26th. Wells Fargo & Company set a $42.00 price objective on Trade Desk and gave the company an “equal weight” rating in a report on Monday, January 12th. Zacks Research raised Trade Desk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wolfe Research reiterated an “outperform” rating and set a $45.00 price target (down from $60.00) on shares of Trade Desk in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Trade Desk has a consensus rating of “Hold” and an average price target of $58.13.

Trade Desk Stock Down 3.9%

The business’s 50-day simple moving average is $33.53 and its 200-day simple moving average is $42.99. The stock has a market cap of $11.67 billion, a PE ratio of 27.73, a PEG ratio of 0.99 and a beta of 1.10.

Trade Desk declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Trade Desk by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock worth $3,207,504,000 after buying an additional 317,107 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Trade Desk by 327.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company’s stock valued at $80,732,000 after buying an additional 858,978 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Trade Desk by 62.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,743 shares of the technology company’s stock valued at $8,515,000 after acquiring an additional 66,672 shares during the last quarter. Panagora Asset Management Inc. grew its position in Trade Desk by 22.9% in the second quarter. Panagora Asset Management Inc. now owns 996,787 shares of the technology company’s stock worth $71,759,000 after acquiring an additional 185,552 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Trade Desk by 56.8% during the 2nd quarter. Schroder Investment Management Group now owns 895,150 shares of the technology company’s stock valued at $64,442,000 after purchasing an additional 324,173 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.