Trade Desk (NASDAQ:TTD) Stock Bumped Up to Hold by DA Davidson

DA Davidson upgraded shares of Trade Desk (NASDAQ:TTD) to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

Other analysts have also recently issued research reports about the company. BNP Paribas Exane cut Trade Desk from a “neutral” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Monday, August 10th. Citigroup cut shares of Trade Desk from a “neutral” rating to a “sell” rating and reduced their price target for the company from $21.00 to $11.00 in a research report on Friday, August 7th. Rosenblatt Securities decreased their price objective on shares of Trade Desk from $24.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Cannonball Research lowered shares of Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, August 7th. Finally, KeyCorp reissued a “sector weight” rating on shares of Trade Desk in a research note on Tuesday, September 8th. Four investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $18.19.

Trade Desk Stock Up 0.3%

TTD stock opened at $11.98 on Monday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.38 and a beta of 1.00. The business has a fifty day simple moving average of $14.35 and a 200-day simple moving average of $18.54. Trade Desk has a 52 week low of $11.74 and a 52 week high of $56.39.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. During the same quarter in the previous year, the business posted $0.41 EPS. Trade Desk’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Trade Desk will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Trade Desk by 941.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,219,046 shares of the technology company’s stock valued at $73,040,000 after purchasing an additional 2,910,064 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Trade Desk during the second quarter worth approximately $39,750,000. Renaissance Technologies LLC boosted its position in shares of Trade Desk by 59.0% during the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock worth $123,446,000 after buying an additional 2,018,525 shares during the period. Bank of Nova Scotia grew its holdings in Trade Desk by 1,913.4% in the 1st quarter. Bank of Nova Scotia now owns 1,394,787 shares of the technology company’s stock worth $31,648,000 after buying an additional 1,325,513 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Trade Desk by 330.0% in the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock valued at $33,961,000 after acquiring an additional 1,148,680 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.