Morgan Stanley Cuts Trade Desk (NASDAQ:TTD) Price Target to $42.00

Trade Desk (NASDAQ:TTD) had its target price cut by research analysts at Morgan Stanley from $50.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 15.14% from the stock’s previous close.

Several other brokerages have also issued reports on TTD. Wolfe Research reaffirmed an “outperform” rating and issued a $45.00 target price (down previously from $60.00) on shares of Trade Desk in a research note on Monday, January 5th. UBS Group set a $42.00 price objective on shares of Trade Desk in a research note on Tuesday. JMP Securities set a $60.00 target price on shares of Trade Desk and gave the company a “market outperform” rating in a research report on Tuesday, September 30th. Citigroup restated an “outperform” rating on shares of Trade Desk in a research report on Tuesday, September 30th. Finally, DA Davidson decreased their price objective on Trade Desk from $80.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Twenty-one research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.34.

Trade Desk Trading Down 1.1%

Shares of Trade Desk stock traded down $0.42 during midday trading on Tuesday, reaching $36.48. The company had a trading volume of 4,416,151 shares, compared to its average volume of 10,617,131. The stock has a fifty day simple moving average of $39.55 and a 200 day simple moving average of $53.18. Trade Desk has a 1-year low of $35.65 and a 1-year high of $126.20. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $739.43 million during 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%.The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts expect that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. State Street Corp lifted its position in Trade Desk by 271.1% during the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after acquiring an additional 26,559,005 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Trade Desk by 27.7% during the third 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. Geode Capital Management LLC lifted its holdings in Trade Desk by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock worth $884,860,000 after purchasing an additional 4,218,975 shares during the last quarter. Invesco Ltd. boosted its stake in Trade Desk by 101.0% in the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock valued at $333,659,000 after purchasing an additional 3,421,074 shares during the period. Finally, Norges Bank acquired a new position in Trade Desk in the 2nd quarter valued at $197,362,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.