Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Trade Desk (NASDAQ:TTD) had its target price raised by research analysts at Morgan Stanley from $60.00 to $80.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 12.61% from the company’s previous close.

Several other equities research analysts have also commented on TTD. Wedbush reiterated an “outperform” rating and issued a $86.00 price objective (up from $80.00) on shares of Trade Desk in a research report on Friday. Oppenheimer cut their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. HSBC set a $75.00 price objective on Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their target price on shares of Trade Desk from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Trade Desk Stock Performance

NASDAQ:TTD opened at $71.04 on Friday. The stock has a market capitalization of $35.24 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a fifty day moving average price of $54.62 and a two-hundred day moving average price of $95.16.

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

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase 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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lyell Wealth Management LP boosted its stake in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Assenagon Asset Management S.A. increased its position in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after acquiring an additional 51,603 shares during the period. Moody National Bank Trust Division bought a new stake in Trade Desk in the 4th quarter valued at $985,000. Yousif Capital Management LLC boosted its holdings in Trade Desk by 5.4% in the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock valued at $688,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP grew its position in Trade Desk by 46.3% in the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock worth $660,000 after purchasing an additional 1,732 shares during the last quarter. 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.