Oppenheimer Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price target boosted by equities researchers at Oppenheimer from $75.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 12.61% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Citizens Jmp cut their target price on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets reduced their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald cut their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Stock Up 18.6 %

TTD stock opened at $71.04 on Friday. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a market capitalization of $35.24 billion, a P/E ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company has a fifty day simple moving average of $54.62 and a two-hundred day simple moving average of $95.16.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in the business. Gagnon Securities LLC acquired a new stake in shares of Trade Desk in the 1st quarter worth $361,000. Deutsche Bank AG boosted its holdings in Trade Desk by 17.7% in the first quarter. Deutsche Bank AG now owns 1,343,844 shares of the technology company’s stock worth $73,535,000 after acquiring an additional 201,717 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Trade Desk by 5.4% during the first quarter. Chicago Partners Investment Group LLC now owns 6,978 shares of the technology company’s stock worth $394,000 after acquiring an additional 357 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Trade Desk by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,985,284 shares of the technology company’s stock valued at $108,635,000 after acquiring an additional 110,145 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in shares of Trade Desk in the 1st quarter valued at approximately $1,719,000. 67.77% of the stock is owned by institutional investors and hedge funds.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.