Trade Desk (NASDAQ:TTD) Price Target Raised to $16.00

Trade Desk (NASDAQ:TTD) had its price objective boosted by Guggenheim from $13.00 to $16.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the company. Raymond James Financial cut Trade Desk from a “market perform” rating to an “underperform” rating in a research note on Friday, August 7th. Evercore set a $14.00 target price on shares of Trade Desk in a research report on Tuesday, September 8th. Robert W. Baird set a $9.00 price target on shares of Trade Desk and gave the stock a “neutral” rating in a research note on Friday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Trade Desk in a research note on Tuesday. Finally, Citigroup cut shares of 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 research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $18.52.

Trade Desk Stock Performance

TTD stock opened at $15.47 on Tuesday. Trade Desk has a fifty-two week low of $11.62 and a fifty-two week high of $43.86. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The business’s 50 day moving average price is $13.19 and its two-hundred day moving average price is $19.21.

Trade Desk (NASDAQ:TTD) last released its earnings results on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. The company had revenue of $735.97 million during the quarter, compared to analysts’ expectations of $650.93 million. Trade Desk had a return on equity of 14.36% and a net margin of 11.03%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts forecast that Trade Desk will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 2,018,525 shares during 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 valued at $103,214,000 after acquiring an additional 1,141,704 shares in the last quarter. Amundi boosted its stake in Trade Desk by 0.6% during the 1st quarter. Amundi now owns 3,056,305 shares of the technology company’s stock valued at $69,348,000 after purchasing an additional 17,097 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Trade Desk during the 2nd quarter valued at $39,750,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Trade Desk by 330.0% in the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock worth $33,961,000 after purchasing an additional 1,148,680 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Top Trade Desk Stories

Here are a few of the latest stories about TTD:

• Positive Sentiment: Q3 revenue of about $736 million exceeded expectations, as did earnings per share. Management also forecast Q4 revenue of about $755 million, offering a potential improvement in growth momentum. Trade Desk’s $736M Q3 Revenues: Is a Growth Recovery Taking Shape?
• Positive Sentiment: Analyst sentiment has included multiple price-target increases after the earnings report; at least 14 analysts reportedly raised targets, adding a source of support for the stock. Trade Desk Stock Boosted by Wall Street Optimism Following Earnings Beat
• Negative Sentiment: Competition and advertising-market headwinds remain risks, tempering confidence that stronger Q4 guidance will translate into a sustained growth recovery. Competitive Headwinds Keep Coming For The Trade Desk

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.