The Trade Desk (NASDAQ:TTD) Stock Has Average Price Target of $18.16 According to Analysts

Shares of The Trade Desk (NASDAQ:TTD) have received a consensus recommendation of “Reduce” from the thirty-nine ratings firms that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, twenty-six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.16.

TTD has been the subject of a number of analyst reports. BNP Paribas Exane lowered shares of Trade Desk from a “neutral” rating to an “underperform” rating and set a $10.00 price objective for the company. in a report on Monday, August 10th. Evercore set a $14.00 price target on shares of Trade Desk in a research note on Tuesday, September 8th. DA Davidson upgraded Trade Desk to a “hold” rating in a research report on Monday, October 5th. Cantor Fitzgerald decreased their target price 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. Finally, Needham & Company LLC cut their price objective on Trade Desk from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, August 7th.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in TTD. Root Financial Partners LLC raised its holdings in Trade Desk by 219.4% during the 1st quarter. Root Financial Partners LLC now owns 1,319 shares of the technology company’s stock worth $30,000 after purchasing an additional 906 shares during the last quarter. Ascentis Independent Advisors bought a new stake in Trade Desk during the first quarter worth about $36,000. NBH Bank bought a new stake in shares of Trade Desk during the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its position in Trade Desk by 159.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,247 shares during the period. Finally, South Dakota Investment Council bought a new stake in shares of Trade Desk in the 1st quarter valued at $54,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $12.29 on Wednesday. Trade Desk has a one year low of $11.62 and a one year high of $50.79. The firm has a market capitalization of $5.77 billion, a P/E ratio of 14.63, a PEG ratio of 1.33 and a beta of 1.00. The business has a fifty day moving average of $13.10 and a 200 day moving average of $20.20.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The company had revenue of $715.06 million for the quarter, compared to the consensus estimate of $752.41 million. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect that Trade Desk will post 0.52 EPS for the current fiscal year.

About Trade Desk

The Trade Desk, Inc is a technology company that provides a cloud-based platform for digital advertising. Its demand-side platform enables advertisers and advertising agencies to plan, purchase, optimize and measure programmatic campaigns across channels including connected television, display, mobile, audio, native advertising and digital out-of-home media.

The company’s platform is designed to help clients use data and automated bidding to reach audiences across websites, applications, streaming services and other digital properties.