Needham & Company LLC Reiterates “Buy” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $84.00 target price on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 18.24% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial decreased their price target on Trade Desk from $130.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Cantor Fitzgerald lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Scotiabank reduced their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group reduced their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 11th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Trade Desk Trading Up 18.6 %

TTD opened at $71.04 on Friday. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market cap of $35.24 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. The company’s fifty day moving average price is $54.62 and its two-hundred day moving average price is $95.16.

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

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

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk in the fourth quarter worth $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in 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.