Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Scotiabank Analyst Says

Trade Desk (NASDAQ:TTD) had its price objective boosted by Scotiabank from $12.00 to $15.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Scotiabank‘s price objective points to a potential downside of 3.30% from the stock’s current price.

Several other brokerages also recently issued reports on TTD. Guggenheim raised their target price on shares of Trade Desk from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company set a $12.00 price objective on Trade Desk and gave the company an “equal weight” rating in a research note on Friday, August 7th. Royal Bank Of Canada increased their price target on Trade Desk from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Tuesday. Citigroup cut shares of Trade Desk from a “neutral” rating to a “sell” rating and decreased their price target for the company from $21.00 to $11.00 in a research report on Friday, August 7th. Finally, Truist Financial set a $17.00 price target on shares of Trade Desk and gave the stock a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, Trade Desk has a consensus rating of “Reduce” and an average price target of $18.58.

Trade Desk Stock Performance

TTD stock traded up $0.58 during midday trading on Tuesday, hitting $15.51. 28,115,589 shares of the company’s stock were exchanged, compared to its average volume of 20,271,295. The company has a market cap of $7.29 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. Trade Desk has a one year low of $11.62 and a one year high of $45.50. The stock’s fifty day moving average price is $13.09 and its 200-day moving average price is $19.52.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.29. The business had revenue of $735.97 million for the quarter, compared to analyst estimates of $650.93 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. On average, analysts expect that Trade Desk will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new position in shares of Trade Desk in the third quarter valued at approximately $7,433,000. Teachers Retirement System of The State of Kentucky boosted its stake in Trade Desk by 110.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 63,000 shares of the technology company’s stock valued at $767,000 after buying an additional 33,000 shares during the period. GatePass Capital LLC bought a new position in shares of Trade Desk in the third quarter worth approximately $231,000. Bessemer Group Inc. raised its position in shares of Trade Desk by 342.9% during the 3rd quarter. Bessemer Group Inc. now owns 7,781 shares of the technology company’s stock valued at $94,000 after buying an additional 6,024 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Trade Desk by 189.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 29,421 shares of the technology company’s stock worth $358,000 after acquiring an additional 19,249 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk News Summary

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

• Positive Sentiment: Third-quarter adjusted earnings were $0.33 per share and revenue was about $736 million, topping analyst expectations. The company forecast fourth-quarter revenue of $755 million, above the roughly $692 million consensus estimate. Benzinga: What’s Going On With Trade Desk Stock Tuesday?
• Positive Sentiment: Management expanded its share-repurchase authorization, while a planned 15% workforce reduction is expected to generate more than $100 million in gross savings in 2027. Investors may also see AI products and connected-TV opportunities as potential growth drivers. The Motley Fool: Three Key Takeaways for Long-Term Investors
• Neutral Sentiment: Analyst actions were cautious overall: Needham reaffirmed its Buy rating and $19 target, while RBC and Guggenheim raised targets but maintained sector-perform or neutral ratings. Wedbush kept its neutral rating and $15 target.
• Negative Sentiment: Revenue fell 0.5% year over year—the first contraction in years—and management acknowledged growth remains below its desired level. Commentary about discounts, layoffs and competitive pressure raises questions about how sustainable the rebound will be. 24/7 Wall St.: Revenue Shrunk for the First Time in Years

About Trade Desk

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.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.