Trade Desk (NASDAQ:TTD) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of Trade Desk (NASDAQ:TTD) in a report released on Thursday morning. The firm issued a neutral rating and a $55.00 target price on the technology company’s stock.

A number of other research firms have also recently issued reports on TTD. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of Trade Desk in a research report on Monday. Wolfe Research lifted their price target on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. DA Davidson dropped their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $104.10.

Trade Desk Price Performance

NASDAQ TTD opened at $50.26 on Thursday. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 64.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The company has a 50 day simple moving average of $62.92 and a 200-day simple moving average of $102.01. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the 4th quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

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.