KeyCorp Lowers Trade Desk (NASDAQ:TTD) Price Target to $35.00

Trade Desk (NASDAQ:TTD) had its target price decreased by stock analysts at KeyCorp from $40.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 40.00% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Trade Desk from $74.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Bank of America dropped their target price on Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a report on Tuesday, January 20th. New Street Research cut Trade Desk from a “neutral” rating to a “sell” rating and set a $17.00 price target on the stock. in a research note on Thursday, February 26th. Oppenheimer lowered their price objective on Trade Desk from $70.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, Weiss Ratings cut shares of Trade Desk from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Trade Desk currently has an average rating of “Hold” and a consensus target price of $43.45.

Trade Desk Stock Performance

TTD stock opened at $25.00 on Monday. The company has a market capitalization of $12.09 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. Trade Desk has a one year low of $21.08 and a one year high of $91.45. The company’s 50 day moving average price is $31.77 and its two-hundred day moving average price is $41.34.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The company had revenue of $846.79 million during the quarter, compared to analysts’ expectations of $840.56 million. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. On average, research analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Trade Desk by 27.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after purchasing an additional 12,321,000 shares during the period. State Street Corp raised 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 worth $1,781,723,000 after buying an additional 26,559,005 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $884,860,000 after buying an additional 4,218,975 shares during the period. Brown Advisory Inc. boosted its position in Trade Desk by 2.7% during the 2nd quarter. Brown Advisory Inc. now owns 8,323,522 shares of the technology company’s stock valued at $599,212,000 after acquiring an additional 221,228 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Trade Desk by 101.0% during the 3rd 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. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.