Trade Desk (NASDAQ:TTD) Trading Down 2.7% – Time to Sell?
by Amy Steele · The Cerbat GemThe Trade Desk (NASDAQ:TTD – Get Free Report)’s stock price traded down 2.7% on Wednesday . The stock traded as low as $38.29 and last traded at $38.65. 10,141,178 shares changed hands during trading, a decline of 13% from the average session volume of 11,591,894 shares. The stock had previously closed at $39.74.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TTD. Needham & Company LLC dropped their price target on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Susquehanna dropped their target price on shares of Trade Desk from $135.00 to $85.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. Wells Fargo & Company cut their price target on shares of Trade Desk from $53.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, November 7th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $45.00 price objective (down from $60.00) on shares of Trade Desk in a research report on Monday. Twenty-one analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $71.19.
View Our Latest Report on Trade Desk
Trade Desk Stock Down 0.0%
The company has a market cap of $18.03 billion, a PE ratio of 42.86, a PEG ratio of 1.46 and a beta of 1.11. The company’s fifty day moving average is $39.80 and its 200-day moving average is $53.64.
Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.
Trade Desk declared that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Institutional Investors Weigh In On Trade Desk
Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Cornerstone Wealth Group LLC boosted its position in Trade Desk by 2.8% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company’s stock worth $321,000 after acquiring an additional 122 shares during the period. STF Management LP raised its stake in shares of Trade Desk by 2.1% during the second quarter. STF Management LP now owns 6,627 shares of the technology company’s stock valued at $477,000 after purchasing an additional 136 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Trade Desk by 3.5% during the second quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company’s stock valued at $305,000 after purchasing an additional 142 shares in the last quarter. HighMark Wealth Management LLC lifted its holdings in Trade Desk by 46.2% in the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock worth $34,000 after purchasing an additional 151 shares during the period. Finally, Brighton Jones LLC lifted its holdings in Trade Desk by 3.8% in the fourth 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. Hedge funds and other institutional investors own 67.77% of the company’s stock.
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.