Trade Desk (NASDAQ:TTD) Reaches New 1-Year Low – What’s Next?

The Trade Desk (NASDAQ:TTD)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $37.27 and last traded at $37.2470, with a volume of 5025509 shares trading hands. The stock had previously closed at $39.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TTD shares. Morgan Stanley lowered shares of Trade Desk from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $80.00 to $50.00 in a research report on Wednesday, September 10th. Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, November 7th. DA Davidson reduced their price objective on Trade Desk from $80.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 10th. Citigroup reaffirmed an “outperform” rating on shares of Trade Desk in a research report on Tuesday, September 30th. Finally, Needham & Company LLC dropped their price target on Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $76.56.

Trade Desk Stock Down 5.4%

The firm has a market capitalization of $17.95 billion, a P/E ratio of 42.74, a PEG ratio of 1.96 and a beta of 1.07. The firm has a 50 day moving average of $46.06 and a 200-day moving average of $58.77.

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

Trade Desk declared that its Board of Directors has approved a share buyback program on Thursday, November 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. IFP Advisors Inc increased its holdings in Trade Desk by 12.5% in the 3rd quarter. IFP Advisors Inc now owns 12,080 shares of the technology company’s stock valued at $623,000 after buying an additional 1,343 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Trade Desk during the 3rd quarter worth approximately $17,424,000. EMC Capital Management increased its stake in Trade Desk by 244.7% in the third quarter. EMC Capital Management now owns 24,651 shares of the technology company’s stock valued at $1,208,000 after acquiring an additional 17,500 shares during the last quarter. Sunbelt Securities Inc. raised its position in Trade Desk by 263.5% during the third quarter. Sunbelt Securities Inc. now owns 20,619 shares of the technology company’s stock valued at $1,011,000 after purchasing an additional 14,947 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Trade Desk during the third quarter worth $10,388,000. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.