Trade Desk (NASDAQ:TTD) Lowered to “Market Perform” Rating by Citizens Jmp

Citizens Jmp downgraded shares of Trade Desk (NASDAQ:TTD) from an outperform rating to a market perform rating in a research report report published on Friday morning, Marketbeat reports.

TTD has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Trade Desk in a report on Monday, December 29th. Wedbush reduced their price target on shares of Trade Desk from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. UBS Group reaffirmed a “buy” rating and issued a $50.00 price target (down from $82.00) on shares of Trade Desk in a report on Tuesday. Morgan Stanley lowered their price objective on shares of Trade Desk from $50.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Finally, Citigroup lowered shares of Trade Desk from an “outperform” rating to a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.76.

Trade Desk Stock Performance

Shares of TTD stock opened at $36.55 on Friday. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 1.44 and a beta of 1.11. Trade Desk has a one year low of $34.00 and a one year high of $125.80. The company’s 50-day simple moving average is $38.04 and its 200-day simple moving average is $51.14.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.Trade Desk’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts forecast that Trade Desk will post 1.06 EPS for the current year.

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 purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after buying an additional 169 shares during the period. Bison Wealth LLC raised its stake in Trade Desk by 24.3% during the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after acquiring an additional 485 shares in the last quarter. Woodline Partners LP boosted its position in Trade Desk by 75.5% during the 1st quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock worth $289,000 after acquiring an additional 2,269 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Trade Desk by 15.8% in the second quarter. Farther Finance Advisors LLC now owns 4,536 shares of the technology company’s stock worth $327,000 after purchasing an additional 620 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Trade Desk during the second quarter valued at $226,000. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.