Piper Sandler Reiterates “Neutral” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “neutral” rating reissued by Piper Sandler in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $28.00 target price on the technology company’s stock, down from their previous target price of $50.00. Piper Sandler’s target price suggests a potential upside of 12.00% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Trade Desk from $74.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group set a $40.00 target price on shares of Trade Desk and gave the company a “hold” rating in a research report on Thursday, December 11th. BNP Paribas Exane started coverage on shares of Trade Desk in a report on Wednesday, January 14th. They issued a “neutral” rating and a $40.00 price target on the stock. Citizens Jmp downgraded Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, January 23rd. Finally, Guggenheim reiterated a “buy” rating and set a $50.00 price objective (down from $55.00) on shares of Trade Desk in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trade Desk has a consensus rating of “Hold” and an average price target of $43.45.

Trade Desk Trading Up 2.8%

Shares of NASDAQ TTD opened at $25.00 on Monday. Trade Desk has a 12-month low of $21.08 and a 12-month high of $91.45. The stock’s fifty day simple moving average is $31.77 and its two-hundred day simple moving average is $41.34. The stock 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 (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.89% and a net margin of 15.31%.The firm had revenue of $846.79 million during the quarter, compared to analyst estimates of $840.56 million. During the same period in the previous year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after purchasing an additional 169 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Trade Desk by 24.3% in the fourth quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock worth $291,000 after purchasing an additional 485 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Trade Desk by 75.5% during the first quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock worth $289,000 after purchasing an additional 2,269 shares during the period. Assetmark Inc. lifted its holdings in shares of Trade Desk by 14.6% during the second quarter. Assetmark Inc. now owns 33,613 shares of the technology company’s stock worth $2,420,000 after purchasing an additional 4,291 shares during the period. Finally, Amalgamated Bank boosted its position in Trade Desk by 6.0% in the second quarter. Amalgamated Bank now owns 33,759 shares of the technology company’s stock valued at $2,430,000 after buying an additional 1,906 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.