Trade Desk (NASDAQ:TTD) Stock Price Up 1.7% – What’s Next?

The Trade Desk (NASDAQ:TTD)’s share price shot up 1.7% on Wednesday . The stock traded as high as $38.14 and last traded at $38.06. 4,207,117 shares traded hands during trading, a decline of 66% from the average session volume of 12,367,797 shares. The stock had previously closed at $37.44.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TTD. Morgan Stanley cut Trade Desk from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $80.00 to $50.00 in a research note on Wednesday, September 10th. Wedbush lowered their price objective on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Benchmark upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, November 7th. Citigroup reiterated an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Finally, Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Twenty-one analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.56.

Trade Desk Stock Performance

The stock has a market cap of $18.41 billion, a PE ratio of 43.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. The firm has a 50-day moving average price of $42.79 and a 200-day moving average price of $56.04.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. Trade Desk’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. As a group, sell-side analysts anticipate that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Family Legacy Financial Solutions LLC increased its holdings in Trade Desk by 163.2% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock worth $25,000 after buying an additional 310 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after acquiring an additional 270 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Trade Desk by 175.8% during the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after acquiring an additional 334 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Trade Desk in the third quarter worth approximately $26,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Trade Desk during the second quarter valued at approximately $28,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

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.