Trade Desk (NASDAQ:TTD) Stock Keeps “Buy” Rating at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $19.00 price objective on the technology company’s stock. Needham & Company LLC‘s target price indicates a potential upside of 27.26% from the company’s current price.

Several other brokerages also recently issued reports on TTD. Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. BMO Capital Markets cut Trade Desk from an “outperform” rating to a “market perform” rating and set a $15.00 target price for the company. in a research report on Friday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price (down from $30.00) on shares of Trade Desk in a research report on Monday, August 3rd. Citigroup downgraded Trade Desk from a “neutral” rating to a “sell” rating and lowered their price target for the company from $21.00 to $11.00 in a report on Friday, August 7th. Finally, Cannonball Research lowered Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $18.37.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $14.93 on Tuesday. The company has a market cap of $7.02 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. Trade Desk has a 52 week low of $11.62 and a 52 week high of $45.50. The firm has a 50 day simple moving average of $13.09 and a 200 day simple moving average of $19.52.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.29. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm had revenue of $735.97 million during the quarter, compared to analyst estimates of $650.93 million. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Trade Desk will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in Trade Desk by 59.0% during the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock valued at $123,446,000 after purchasing an additional 2,018,525 shares in the last quarter. Bank of America Corp DE lifted its position in Trade Desk by 33.5% in the 1st quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock worth $103,214,000 after buying an additional 1,141,704 shares in the last quarter. Amundi lifted its position in Trade Desk by 0.6% in the 1st quarter. Amundi now owns 3,056,305 shares of the technology company’s stock worth $69,348,000 after buying an additional 17,097 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Trade Desk in the 2nd quarter worth approximately $39,750,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Trade Desk by 330.0% during the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock valued at $33,961,000 after buying an additional 1,148,680 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Key Trade Desk News

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: Q3 results topped expectations: The Trade Desk reported revenue of about $736 million and adjusted earnings of $0.33 per share, beating analyst estimates. Benzinga article
• Positive Sentiment: Strong Q4 guidance: The company forecast revenue of $755 million, well above the roughly $692 million consensus, signaling a stronger near-term outlook. Benzinga article
• Positive Sentiment: Larger buyback: The Trade Desk added $731 million to its repurchase authorization, bringing the program to $1 billion. Buybacks can support per-share results and signal management’s confidence. Seeking Alpha article
• Positive Sentiment: AI and connected-TV opportunity: CEO Jeff Green highlighted AI tools and the potential for AI to increase demand for advertising data and decision-making, alongside growth opportunities in connected TV. Stocktwits article
• Negative Sentiment: Growth remains a concern: Q3 revenue declined 0.5% year over year, and Green said results remain below the growth level the company expects of itself. That may temper enthusiasm about the beat and outlook. Stocktwits article

Trade Desk Company Profile

The Trade Desk, Inc provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display.

The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.