Trade Desk (NASDAQ:TTD) Lowered to “Strong Sell” Rating by Arete Research

Arete Research downgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Wedbush set a $21.00 price objective on shares of Trade Desk and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup reiterated a “neutral” rating on shares of Trade Desk in a research report on Friday, May 8th. DA Davidson set a $29.00 price target on shares of Trade Desk and gave the company a “buy” rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating on shares of Trade Desk in a report on Tuesday, March 17th. Finally, Needham & Company LLC dropped their price objective on shares of Trade Desk from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Hold” and an average target price of $33.52.

Trade Desk Stock Performance

Shares of TTD stock opened at $18.08 on Tuesday. Trade Desk has a 52 week low of $16.98 and a 52 week high of $91.45. The stock has a market capitalization of $8.50 billion, a PE ratio of 20.55, a PEG ratio of 0.90 and a beta of 1.05. The stock’s fifty day moving average is $21.03 and its 200-day moving average is $26.43.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The business had revenue of $688.86 million during the quarter, compared to the consensus estimate of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, analysts forecast that Trade Desk will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, Director Samantha Jacobson sold 53,681 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total value of $1,134,816.34. Following the transaction, the director directly owned 13,099 shares in the company, valued at $276,912.86. This trade represents a 80.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.41% of the stock is currently owned by company insiders.

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 the stock. Pacer Advisors Inc. raised its position in shares of Trade Desk by 43.5% in the 1st quarter. Pacer Advisors Inc. now owns 371,466 shares of the technology company’s stock valued at $8,429,000 after acquiring an additional 112,663 shares during the period. NewEdge Advisors LLC grew its holdings in Trade Desk by 40.7% during the first quarter. NewEdge Advisors LLC now owns 37,737 shares of the technology company’s stock valued at $856,000 after purchasing an additional 10,916 shares during the period. Glenmede Trust Co. NA grew its holdings in Trade Desk by 984.7% during the first quarter. Glenmede Trust Co. NA now owns 428,977 shares of the technology company’s stock valued at $9,733,000 after purchasing an additional 389,429 shares during the period. Western Wealth Management LLC bought a new stake in Trade Desk in the first quarter valued at approximately $56,000. Finally, Bank of America Corp DE raised its holdings in Trade Desk by 33.5% in the first 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 own 67.77% of the company’s stock.

Trending Headlines about Trade Desk

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

• Negative Sentiment: Arete Research downgraded The Trade Desk to strong sell from hold, highlighting competitive pressures and a lower price target that suggests substantial downside. Read More
• Negative Sentiment: Investors reacted to the downgrade by selling the stock, with multiple reports noting that shares fell even as the broader market gained. Article
• Neutral Sentiment: Analyst commentary and follow-up coverage are focusing on whether The Trade Desk can offset Arete’s concerns with its recent additions to value and growth benchmarks and its expanding commerce and travel media integrations. Article

About Trade Desk

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.