The Trade Desk (NASDAQ:TTD) Receives $19.33 Consensus Target Price from Analysts

Shares of The Trade Desk (NASDAQ:TTD) have been assigned a consensus recommendation of “Reduce” from the thirty-nine analysts that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a sell recommendation, twenty-five have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.36.

TTD has been the subject of several research reports. Arete Research set a $11.60 target price on Trade Desk and gave the company a “sell” rating in a research report on Tuesday, June 30th. DA Davidson reissued a “neutral” rating and issued a $16.00 price objective (down from $29.00) on shares of Trade Desk in a research note on Monday, August 10th. Morgan Stanley set a $13.00 price objective on shares of Trade Desk in a report on Monday, August 10th. Needham & Company LLC cut their target price on shares of Trade Desk from $25.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, BNP Paribas Exane lowered shares of Trade Desk from a “neutral” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Monday, August 10th.

Trade Desk Stock Up 2.6%

TTD opened at $14.34 on Tuesday. Trade Desk has a 52 week low of $12.83 and a 52 week high of $56.39. The business has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $20.05. The firm has a market cap of $6.74 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.60 and a beta of 1.01.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Trade Desk will post 0.49 earnings per share for the current year.

Institutional Trading of Trade Desk

Several hedge funds have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after purchasing an additional 169 shares during the period. Bison Wealth LLC boosted its stake in shares of Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after buying an additional 485 shares during the period. Woodline Partners LP grew its position in shares of Trade Desk by 75.5% during the first quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock worth $289,000 after buying an additional 2,269 shares in the last quarter. Cerity Partners LLC grew its position in shares of Trade Desk by 46.6% during the second quarter. Cerity Partners LLC now owns 59,785 shares of the technology company’s stock worth $4,304,000 after buying an additional 19,015 shares in the last quarter. Finally, AXA S.A. increased its stake in shares of Trade Desk by 14.7% during the second quarter. AXA S.A. now owns 42,819 shares of the technology company’s stock worth $3,083,000 after buying an additional 5,487 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Key Trade Desk News

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

• Positive Sentiment: International expansion in EMEA and APAC, growing connected-TV advertising demand and increased activity in China could provide new growth avenues for The Trade Desk and help diversify its revenue base. TTD’s International Expansion: Can EMEA and APAC Drive Growth?
• Positive Sentiment: Royal Bank of Canada reaffirmed its “Sector Perform” rating, suggesting the recent selloff may already reflect many of the company’s challenges and that the risk-reward profile is becoming more balanced. Royal Bank Of Canada Reaffirms Sector Perform Rating for Trade Desk
• Positive Sentiment: The stock’s recent outperformance may reflect bargain hunting after a steep decline, although the broader recovery case still depends on evidence that growth can reaccelerate. The Trade Desk Surpasses Market Returns

About Trade Desk

The Trade Desk, Inc is a technology company that provides a self-service, cloud-based platform for digital advertising. Its platform enables advertising agencies and brands to plan, purchase, optimize and measure data-driven advertising campaigns across multiple channels and devices.

The company’s platform supports programmatic buying for display, video, connected television, audio, native and other forms of digital media. Its services are designed to help advertisers use audience data, automation and analytics to reach targeted consumers while managing campaigns across a range of publishers and media environments.

The Trade Desk was founded in 2009 by Jeff Green and Dave Pickles.