Cantor Fitzgerald Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target reduced by Cantor Fitzgerald from $115.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 19.31% from the company’s current price.

Several other research firms have also recently commented on TTD. Oppenheimer increased their target price on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a research note on Thursday. Loop Capital boosted their target price on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. KeyCorp upped their target price on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wedbush lifted their price target on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $127.77.

Trade Desk Trading Down 31.4 %

TTD stock traded down $38.42 during trading on Thursday, reaching $83.82. The stock had a trading volume of 20,315,429 shares, compared to its average volume of 4,484,090. The firm has a fifty day moving average price of $123.20 and a 200 day moving average price of $115.54. The company has a market capitalization of $41.37 billion, a P/E ratio of 137.58, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $72.21 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Sell-side analysts predict that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last ninety days. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Creative Planning lifted its holdings in shares of Trade Desk by 10.6% in the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after purchasing an additional 12,384 shares in the last quarter. Swedbank AB grew its holdings in shares of Trade Desk by 22.6% during the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after buying an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. raised its position in Trade Desk by 12.1% during the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after buying an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Trade Desk in the 3rd quarter worth about $263,000. Finally, Paragon Capital Management Inc. acquired a new stake in Trade Desk during the 3rd quarter worth about $811,000. 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.