Trade Desk (NASDAQ:TTD) Rating Increased to Hold at HSBC

Trade Desk (NASDAQ:TTD) was upgraded by equities research analysts at HSBC from a “reduce” rating to a “hold” rating in a research report issued on Wednesday,Benzinga reports. The firm presently has a $20.00 target price on the technology company’s stock. HSBC’s price target would suggest a potential upside of 4.84% from the stock’s previous close.

A number of other research analysts have also weighed in on TTD. Rosenblatt Securities dropped their price objective on shares of Trade Desk from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Weiss Ratings downgraded Trade Desk from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. Stifel Nicolaus set a $21.00 price target on shares of Trade Desk in a research note on Friday, May 8th. Needham & Company LLC decreased their price objective on Trade Desk from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, UBS Group set a $31.00 price target on shares of Trade Desk and gave the company a “buy” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.52.

Trade Desk Stock Down 0.5%

Shares of TTD traded down $0.10 during mid-day trading on Wednesday, hitting $19.08. 1,585,404 shares of the company’s stock were exchanged, compared to its average volume of 18,968,553. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. The stock’s 50-day simple moving average is $20.60 and its 200-day simple moving average is $25.81. Trade Desk has a 52 week low of $16.98 and a 52 week high of $91.45.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The business had revenue of $688.86 million during the quarter, compared to analyst estimates of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. Analysts forecast that Trade Desk will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, Director Samantha Jacobson sold 53,681 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the completion of the sale, the director directly owned 13,099 shares in the company, valued at $276,912.86. This represents a 80.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the business. State Street Corp increased its position in Trade Desk by 271.1% during the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock valued at $1,781,723,000 after purchasing an additional 26,559,005 shares during the period. Invesco Ltd. grew its stake in shares of Trade Desk by 101.0% in the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock worth $333,659,000 after buying an additional 3,421,074 shares during the last quarter. Renaissance Technologies LLC increased 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 acquiring an additional 2,018,525 shares in the last quarter. Norges Bank bought a new stake in Trade Desk during the 4th quarter valued at about $197,550,000. Finally, Federated Hermes Inc. raised its holdings in Trade Desk by 1,041.1% in the 4th quarter. Federated Hermes Inc. now owns 4,710,847 shares of the technology company’s stock worth $178,824,000 after acquiring an additional 4,298,009 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

About Trade Desk

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.