The Trade Desk (NASDAQ:TTD) Stock Rated “Reduce” by Wall Street Analysts

Shares of The Trade Desk (NASDAQ:TTD) have received a consensus rating of “Reduce” from the thirty-nine research firms that are presently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.16.

A number of research firms recently commented on TTD. Weiss Ratings reiterated a “sell (d)” rating on shares of Trade Desk in a report on Friday, September 11th. UBS Group set a $15.00 price objective on Trade Desk and gave the company a “buy” rating in a research report on Wednesday, October 14th. Truist Financial set a $16.00 price objective on Trade Desk and gave the stock a “hold” rating in a report on Friday, August 7th. HSBC cut Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price objective on the stock. in a research report on Monday, August 10th. Finally, BNP Paribas Exane downgraded shares of Trade Desk from a “neutral” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Monday, August 10th.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of Trade Desk during the 2nd quarter valued at about $39,750,000. Renaissance Technologies LLC lifted its stake in shares of Trade Desk by 59.0% in the 1st 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 during the last quarter. Bank of Nova Scotia increased its stake in shares of Trade Desk by 1,913.4% in the first quarter. Bank of Nova Scotia now owns 1,394,787 shares of the technology company’s stock worth $31,648,000 after buying an additional 1,325,513 shares during the period. Quantinno Capital Management LP grew its stake in shares of Trade Desk by 330.0% in the first 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 during the last quarter. Finally, Bank of America Corp DE grew its position in shares of 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 during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD opened at $12.86 on Wednesday. The firm’s 50 day moving average price is $13.08 and its 200 day moving average price is $19.95. Trade Desk has a twelve month low of $11.62 and a twelve month high of $48.47. The firm has a market cap of $6.04 billion, a PE ratio of 15.31, a PEG ratio of 1.36 and a beta of 0.98.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share (EPS) 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 business had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. During the same period last year, the business earned $0.41 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Trade Desk will post 0.52 earnings per share for the current fiscal year.

Trade Desk News Summary

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

• Positive Sentiment: Co-founder and former CTO Dave Pickles is returning in an expanded technology leadership role. He will lead a new CTO Council, advising the company’s engineering and product teams—a move that could strengthen technology execution. The Trade Desk Strengthens Leadership Bench
• Positive Sentiment: TTD was among ad-tech stocks edging higher as the battered sector rebounded. This may have supported the shares, though the coverage points to a broader industry move rather than a company-specific catalyst. Ad-tech stocks rebound
• Neutral Sentiment: Articles comparing TTD’s value with Alphabet and highlighting its popularity among Zacks readers offer no clear new company-specific catalyst in the available details. TTD or GOOG: Which Is the Better Value Stock Right Now? Is The Trade Desk Worth Betting on Now?
• Negative Sentiment: A Zacks preview said TTD lacked the factors associated with a likely earnings beat, and characterized Q3 earnings as expected to decline. That could weigh on sentiment ahead of the report. Earnings Preview: The Trade Desk Q3 Earnings Expected to Decline

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that provides a cloud-based platform for digital advertising. Its demand-side platform enables advertisers and advertising agencies to plan, purchase, optimize and measure programmatic campaigns across channels including connected television, display, mobile, audio, native advertising and digital out-of-home media.

The company’s platform is designed to help clients use data and automated bidding to reach audiences across websites, applications, streaming services and other digital properties.