Trade Desk (NASDAQ:TTD) Price Target Raised to $18.00

Trade Desk (NASDAQ:TTD) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $15.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada‘s target price indicates a potential upside of 20.56% from the company’s previous close.

Several other research firms have also recently issued reports on TTD. DA Davidson upgraded shares of Trade Desk to a “hold” rating in a research report on Monday, October 5th. Citigroup lowered shares of Trade Desk from a “neutral” rating to a “sell” rating and decreased their target price for the company from $21.00 to $11.00 in a report on Friday, August 7th. UBS Group set a $15.00 target price on shares of Trade Desk and gave the company a “buy” rating in a report on Wednesday, October 14th. Cantor Fitzgerald dropped their price target on shares of Trade Desk from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, Susquehanna restated a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of Trade Desk in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $18.55.

Trade Desk Stock Performance

NASDAQ TTD opened at $14.93 on Tuesday. The stock’s fifty day moving average is $13.09 and its two-hundred day moving average is $19.52. The firm has a market capitalization of $7.02 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. Trade Desk has a fifty-two week low of $11.62 and a fifty-two week high of $45.50.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Monday, November 9th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.29. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%. The business had revenue of $735.97 million during the quarter, compared to the consensus estimate of $650.93 million. During the same period last year, the company earned $0.45 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Trade Desk will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Trade Desk during the second quarter worth about $39,750,000. Renaissance Technologies LLC lifted its holdings in shares of Trade Desk by 59.0% in the 1st quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock worth $123,446,000 after acquiring an additional 2,018,525 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Trade Desk by 1,913.4% in the 1st quarter. Bank of Nova Scotia now owns 1,394,787 shares of the technology company’s stock worth $31,648,000 after acquiring an additional 1,325,513 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Trade Desk by 330.0% in the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock worth $33,961,000 after acquiring an additional 1,148,680 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Trade Desk by 33.5% during the 1st quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock worth $103,214,000 after purchasing an additional 1,141,704 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

More Trade Desk News

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: Q3 results topped expectations: The Trade Desk reported revenue of about $736 million and adjusted earnings of $0.33 per share, beating analyst estimates. Benzinga article
• Positive Sentiment: Strong Q4 guidance: The company forecast revenue of $755 million, well above the roughly $692 million consensus, signaling a stronger near-term outlook. Benzinga article
• Positive Sentiment: Larger buyback: The Trade Desk added $731 million to its repurchase authorization, bringing the program to $1 billion. Buybacks can support per-share results and signal management’s confidence. Seeking Alpha article
• Positive Sentiment: AI and connected-TV opportunity: CEO Jeff Green highlighted AI tools and the potential for AI to increase demand for advertising data and decision-making, alongside growth opportunities in connected TV. Stocktwits article
• Negative Sentiment: Growth remains a concern: Q3 revenue declined 0.5% year over year, and Green said results remain below the growth level the company expects of itself. That may temper enthusiasm about the beat and outlook. Stocktwits article

Trade Desk Company Profile

The Trade Desk, Inc provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display.

The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.