Trade Desk (NASDAQ:TTD) Price Target Raised to $12.00

Trade Desk (NASDAQ:TTD) had its target price raised by Citigroup from $11.00 to $12.00 in a report released on Tuesday,Benzinga reports. They currently have a sell rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Trade Desk in a research report on Tuesday. HSBC downgraded shares of Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price target on the stock. in a report on Monday, August 10th. Evercore set a $14.00 price target on shares of Trade Desk in a report on Tuesday, September 8th. Moffett Nathanson set a $6.00 price target on shares of Trade Desk in a research report on Friday, August 7th. Finally, Truist Financial set a $17.00 price objective on shares of Trade Desk and gave the stock a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $18.52.

Trade Desk Stock Performance

TTD opened at $15.47 on Tuesday. The business’s fifty day moving average is $13.19 and its two-hundred day moving average is $19.21. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.74 and a beta of 0.98. Trade Desk has a one year low of $11.62 and a one year high of $43.86.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Monday, November 9th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.29. Trade Desk had a return on equity of 14.36% and a net margin of 11.03%. The company had revenue of $735.97 million for the quarter, compared to analyst estimates of $650.93 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. Trade Desk’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Trade Desk will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the company. Tema ETFs LLC lifted its stake in shares of Trade Desk by 9.5% during the second quarter. Tema ETFs LLC now owns 8,360 shares of the technology company’s stock valued at $151,000 after buying an additional 725 shares during the period. Sunbelt Securities Inc. boosted its position in Trade Desk by 4.1% during the first quarter. Sunbelt Securities Inc. now owns 24,976 shares of the technology company’s stock worth $567,000 after acquiring an additional 983 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Trade Desk by 159.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,247 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in Trade Desk by 6.3% in the 2nd quarter. New Mexico Educational Retirement Board now owns 21,900 shares of the technology company’s stock worth $396,000 after acquiring an additional 1,300 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in Trade Desk by 7.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 21,293 shares of the technology company’s stock worth $259,000 after acquiring an additional 1,495 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

More Trade Desk News

These are some of the TTD news items that stood out recently:

• Positive Sentiment: TTD generated $153 million in Q3 free cash flow, supported by strong liquidity and cost-cutting efforts—evidence of cash generation even as sales growth slows. Trade Desk’s $153M Q3 Free Cash Flow: Can the Momentum Continue?
• Negative Sentiment: Revenue fell 0.5% year over year, a sharp slowdown from the prior-year growth rate. Reports also flagged profit and margin compression, a restructuring charge and questions about revenue composition. The Trade Desk Beats on Revenue, But the Fine Print Matters
• Negative Sentiment: Competition and advertising-market headwinds remain risks, tempering confidence that stronger Q4 guidance will translate into a sustained growth recovery. Competitive Headwinds Keep Coming For The Trade Desk

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.