Trade Desk (NASDAQ:TTD) Given New $15.00 Price Target at Rosenblatt Securities

Trade Desk (NASDAQ:TTD) had its target price lifted by equities research analysts at Rosenblatt Securities from $12.00 to $15.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Rosenblatt Securities‘s target price suggests a potential upside of 0.47% from the stock’s current price.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald dropped their price target on shares of Trade Desk from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Wolfe Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Trade Desk in a research note on Friday, August 7th. Citigroup cut Trade Desk from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $21.00 to $11.00 in a research note on Friday, August 7th. Morgan Stanley set a $13.00 price objective on Trade Desk in a research note on Monday, August 10th. Finally, Scotiabank set a $12.00 target price on shares of Trade Desk and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $18.28.

Trade Desk Trading Up 15.5%

Trade Desk stock opened at $14.93 on Tuesday. Trade Desk has a 1-year low of $11.62 and a 1-year high of $45.50. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. The firm’s fifty day moving average price is $13.09 and its two-hundred day moving average price is $19.52.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Monday, November 9th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. The business had revenue of $735.97 million during the quarter, compared to the consensus estimate of $650.93 million. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, research analysts forecast that Trade Desk will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Deane Retirement Strategies Inc. purchased a new position in shares of Trade Desk in the second quarter worth $2,101,000. First Trust Advisors LP boosted its holdings in Trade Desk by 32.1% in the first quarter. First Trust Advisors LP now owns 1,448,758 shares of the technology company’s stock valued at $32,872,000 after acquiring an additional 351,771 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of Trade Desk during the first quarter valued at about $2,007,000. Tidal Investments LLC raised its position in shares of Trade Desk by 148.0% in the 2nd quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock worth $2,208,000 after acquiring an additional 72,888 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Trade Desk by 6.1% during the first quarter. Hsbc Holdings PLC now owns 1,083,635 shares of the technology company’s stock valued at $24,737,000 after buying an additional 62,672 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Key Trade Desk News

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

• Positive Sentiment: Q3 results topped expectations: The Trade Desk reported revenue of about $736 million and adjusted earnings of $0.33 per share, beating analyst estimates. Benzinga article
• Positive Sentiment: Strong Q4 guidance: The company forecast revenue of $755 million, well above the roughly $692 million consensus, signaling a stronger near-term outlook. Benzinga article
• Positive Sentiment: Larger buyback: The Trade Desk added $731 million to its repurchase authorization, bringing the program to $1 billion. Buybacks can support per-share results and signal management’s confidence. Seeking Alpha article
• Positive Sentiment: AI and connected-TV opportunity: CEO Jeff Green highlighted AI tools and the potential for AI to increase demand for advertising data and decision-making, alongside growth opportunities in connected TV. Stocktwits article
• Negative Sentiment: Growth remains a concern: Q3 revenue declined 0.5% year over year, and Green said results remain below the growth level the company expects of itself. That may temper enthusiasm about the beat and outlook. Stocktwits article

Trade Desk Company Profile

The Trade Desk, Inc provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display.

The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.