Trade Desk (NASDAQ:TTD) Reaches New 52-Week Low – Should You Sell?

The Trade Desk (NASDAQ:TTD)’s stock price hit a new 52-week low during trading on Tuesday. The stock traded as low as $12.18 and last traded at $12.34, with a volume of 22786831 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna cut Trade Desk from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $34.00 to $14.00 in a report on Friday, August 7th. Raymond James Financial cut Trade Desk from a “market perform” rating to an “underperform” rating in a research report on Friday, August 7th. HSBC lowered Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price target on the stock. in a research report on Monday, August 10th. Morgan Stanley set a $13.00 price objective on Trade Desk in a report on Monday, August 10th. Finally, Robert W. Baird set a $9.00 target price on shares of Trade Desk and gave the stock a “neutral” rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $18.19.

Trade Desk Price Performance

The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.39 and a beta of 1.01. The company’s 50-day simple moving average is $14.67 and its 200-day simple moving average is $18.84.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The firm had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. Trade Desk’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Research analysts expect that The Trade Desk will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Trade Desk by 148.0% during the second quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock worth $2,208,000 after buying an additional 72,888 shares in the last quarter. Archford Capital Strategies LLC bought a new position in Trade Desk during the second quarter worth about $326,000. Integrated Wealth Concepts LLC increased its position in Trade Desk by 84.3% during the second quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company’s stock worth $296,000 after acquiring an additional 7,480 shares during the period. RFG Advisory LLC increased its position in Trade Desk by 37.9% during the second quarter. RFG Advisory LLC now owns 115,773 shares of the technology company’s stock worth $2,093,000 after acquiring an additional 31,821 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Trade Desk by 91.4% in the 2nd quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 34,484 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.