Trade Desk (NASDAQ:TTD) Price Target Raised to $65.00

Trade Desk (NASDAQ:TTD) had its price objective raised by Piper Sandler from $55.00 to $65.00 in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird dropped their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Truist Financial upped their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and lowered their target price for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Scotiabank cut their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup lowered their price objective on Trade Desk from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.88.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $71.04 on Friday. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a market capitalization of $35.24 billion, a P/E ratio of 91.08, a P/E/G ratio of 3.11 and a beta of 1.29. The company’s 50-day moving average is $54.62 and its 200 day moving average is $95.31.

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

Trade Desk declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of TTD. Investment Management Corp VA ADV bought a new position in Trade Desk in the 4th quarter worth $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the fourth quarter worth about $26,000. Banque Cantonale Vaudoise bought a new position in shares of Trade Desk in the first quarter worth about $26,000. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter valued at about $27,000. Finally, von Borstel & Associates Inc. bought a new position in shares of Trade Desk during the 1st quarter valued at approximately $31,000. Institutional investors own 67.77% of the company’s stock.

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.