Bank of America Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective reduced by research analysts at Bank of America from $49.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.88% from the company’s current price.

Several other research firms have also issued reports on TTD. Cantor Fitzgerald set a $43.00 target price on Trade Desk and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Trade Desk in a report on Monday, December 29th. Rosenblatt Securities lowered their target price on shares of Trade Desk from $78.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 7th. 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 research report on Friday, November 7th. Finally, Susquehanna lowered their price objective on shares of Trade Desk from $135.00 to $85.00 and set a “positive” rating for the company in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.41.

Trade Desk Stock Down 1.9%

TTD stock traded down $0.66 during midday trading on Tuesday, reaching $34.82. The company’s stock had a trading volume of 1,463,403 shares, compared to its average volume of 10,560,446. The business’s 50-day simple moving average is $38.64 and its 200-day simple moving average is $51.90. Trade Desk has a 52 week low of $34.60 and a 52 week high of $126.20. The stock has a market cap of $16.84 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Trade Desk (NASDAQ:TTD) last issued 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. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Trade Desk by 0.7% in the second quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock worth $3,207,504,000 after purchasing an additional 317,107 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Trade Desk by 327.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company’s stock worth $80,732,000 after buying an additional 858,978 shares in the last quarter. Schroder Investment Management Group grew its stake in Trade Desk by 56.8% during the second quarter. Schroder Investment Management Group now owns 895,150 shares of the technology company’s stock worth $64,442,000 after buying an additional 324,173 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Trade Desk by 22.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 996,787 shares of the technology company’s stock valued at $71,759,000 after buying an additional 185,552 shares during the period. Finally, Pointe Capital Management LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at approximately $8,246,000. 67.77% of the stock is owned by institutional investors.

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.