Trade Desk (NASDAQ:TTD) Stock Price Target Raised at Wells Fargo & Company

Trade Desk (NASDAQ:TTD) had its target price upped by Wells Fargo & Company from $12.00 to $15.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

TTD has been the topic of a number of other research reports. Truist Financial set a $17.00 target price on shares of Trade Desk and gave the company a “hold” rating in a research note on Tuesday. KeyCorp reissued a “sector weight” rating on shares of Trade Desk in a research report on Tuesday. Citigroup raised their price target on shares of Trade Desk from $11.00 to $12.00 and gave the stock a “sell” rating in a research note on Tuesday. Susquehanna reaffirmed a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of Trade Desk in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Trade Desk in a report on Friday, September 11th. Four analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Reduce” and a consensus target price of $18.52.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $15.98 on Wednesday. The firm has a market capitalization of $7.51 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98. The company’s fifty day moving average price is $13.17 and its two-hundred day moving average price is $19.31. Trade Desk has a 52-week low of $11.62 and a 52-week high of $45.50.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. The company had revenue of $735.97 million during the quarter, compared to analysts’ expectations of $650.93 million. Trade Desk had a net margin of 11.03% and a return on equity of 14.36%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts predict that Trade Desk will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in shares of Trade Desk in the third quarter valued at approximately $65,000. Checchi Capital Advisers LLC boosted its holdings in shares of Trade Desk by 7.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 21,293 shares of the technology company’s stock worth $259,000 after acquiring an additional 1,495 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Trade Desk by 217.8% in the 3rd quarter. Voya Investment Management LLC now owns 273,352 shares of the technology company’s stock worth $3,327,000 after acquiring an additional 187,341 shares in the last quarter. Public Sector Pension Investment Board grew its position in Trade Desk by 1,090.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,451,653 shares of the technology company’s stock worth $17,785,000 after acquiring an additional 1,329,736 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Trade Desk by 1,042.5% during the 3rd quarter. Global Retirement Partners LLC now owns 23,981 shares of the technology company’s stock worth $292,000 after acquiring an additional 21,882 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

More Trade Desk News

Here’s some of the latest news about TTD:

• Positive Sentiment: Q3 revenue of about $736 million exceeded expectations and management’s forecast, while adjusted earnings also beat estimates. The company projected about $755 million in Q4 revenue, helping support optimism that business may be stabilizing. Trade Desk’s $736M Q3 Revenues: Is a Growth Recovery Taking Shape?
• Positive Sentiment: Management’s restructuring includes a 15% workforce reduction, expected to generate more than $100 million in gross savings in 2027. The company also expanded its share-buyback authorization, providing potential support for shareholder returns. Trade Desk: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Several firms raised price targets after the results, but Wells Fargo, Piper Sandler and Cantor Fitzgerald maintained equal-weight or neutral ratings, signaling limited conviction in a near-term recovery. Wells Fargo price-target update

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.