The Trade Desk, Inc. (NASDAQ:TTD) Receives $115.41 Consensus Target Price from Analysts

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have received a consensus rating of “Moderate Buy” from the twenty-nine analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $114.38.

Several research firms have issued reports on TTD. Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Oppenheimer lowered their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird reduced their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. KeyCorp lowered their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Jefferies Financial Group dropped their price target on Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. FMR LLC raised its holdings in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares in the last quarter. Townsquare Capital LLC raised its holdings in Trade Desk by 82.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,887 shares of the technology company’s stock worth $865,000 after purchasing an additional 3,574 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Trade Desk by 5.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 13,243 shares of the technology company’s stock worth $1,452,000 after purchasing an additional 697 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Trade Desk by 6.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,836 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 2,516 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Trade Desk by 2.3% during the third quarter. Captrust Financial Advisors now owns 14,404 shares of the technology company’s stock valued at $1,579,000 after buying an additional 322 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Trade Desk stock opened at $46.34 on Tuesday. The firm has a market capitalization of $22.99 billion, a P/E ratio of 59.41, a PEG ratio of 3.11 and a beta of 1.56. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The business has a fifty day moving average price of $76.65 and a 200-day moving average price of $106.09.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.