Trade Desk (NASDAQ:TTD) Hits New 52-Week Low – What’s Next?

The Trade Desk (NASDAQ:TTD)’s share price hit a new 52-week low on Friday . The stock traded as low as $25.64 and last traded at $25.9810, with a volume of 3468949 shares. The stock had previously closed at $26.14.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TTD shares. Royal Bank Of Canada set a $80.00 price objective on Trade Desk and gave the stock an “outperform” rating in a research note on Friday, November 7th. Bank of America cut their price objective on shares of Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a report on Tuesday, January 20th. Stifel Nicolaus set a $74.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company set a $42.00 price target on shares of Trade Desk and gave the company an “equal weight” rating in a report on Monday, January 12th. Finally, Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.45.

Trade Desk Price Performance

The company has a 50-day moving average of $35.10 and a 200 day moving average of $46.19. The company has a market cap of $12.54 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Brighton Jones LLC increased its stake in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after purchasing an additional 169 shares during the period. Bison Wealth LLC increased its stake in Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock worth $291,000 after buying an additional 485 shares during the period. Woodline Partners LP lifted its holdings in Trade Desk by 75.5% during the 1st quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock valued at $289,000 after buying an additional 2,269 shares in the last quarter. Aberdeen Group plc boosted its position in Trade Desk by 16.0% in the 2nd quarter. Aberdeen Group plc now owns 75,211 shares of the technology company’s stock valued at $5,414,000 after buying an additional 10,377 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new position in Trade Desk in the 2nd quarter worth about $231,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.