The Trade Desk (NASDAQ:TTD) Given Average Rating of “Moderate Buy” by Analysts

Shares of The Trade Desk (NASDAQ:TTD) have received a consensus recommendation of “Moderate Buy” from the thirty-six research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $77.1875.

A number of analysts have issued reports on the stock. Needham & Company LLC cut their price objective on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 7th. Rosenblatt Securities dropped their price target on shares of Trade Desk from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, November 7th. UBS Group reiterated a “buy” rating and issued a $82.00 price target (up from $80.00) on shares of Trade Desk in a research note on Friday, November 7th. JMP Securities set a $60.00 price objective on Trade Desk and gave the stock a “market outperform” rating in a research note on Tuesday, September 30th. Finally, HSBC reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Trade Desk in a report on Monday, August 11th.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $40.05 on Friday. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 1.99 and a beta of 1.07. The stock’s fifty day moving average price is $46.66 and its two-hundred day moving average price is $59.50. Trade Desk has a one year low of $38.22 and a one year high of $139.34.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. Trade Desk’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes 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 leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,403 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $48.20, for a total transaction of $67,624.60. Following the sale, the director directly owned 5,035 shares in the company, valued at $242,687. This represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in Trade Desk by 271.1% in the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock valued at $1,781,723,000 after buying an additional 26,559,005 shares in the last quarter. Vanguard Group Inc. increased its position in Trade Desk by 27.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock valued at $2,787,486,000 after acquiring an additional 12,321,000 shares during the period. Geode Capital Management LLC increased its holdings in Trade Desk by 52.1% in the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after purchasing an additional 4,218,975 shares during the period. Nuveen LLC bought a new position in Trade Desk during the 1st quarter worth $191,935,000. Finally, Invesco Ltd. lifted its stake in shares of Trade Desk by 101.0% in the third quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock worth $333,659,000 after acquiring an additional 3,421,074 shares during the period. Institutional investors 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.