Trade Desk (NASDAQ:TTD) Shares Down 1.3% – What’s Next?

by · The Cerbat Gem

The Trade Desk (NASDAQ:TTD – Get Free Report) shares were down 1.3% on Monday . The stock traded as low as $35.65 and last traded at $36.19. Approximately 17,294,169 shares traded hands during trading, an increase of 42% from the average daily volume of 12,195,399 shares. The stock had previously closed at $36.65.

Wall Street Analyst Weigh In

Several brokerages have commented on TTD. Rosenblatt Securities decreased their price target on shares of Trade Desk from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, November 7th. DA Davidson reduced their price target on Trade Desk from $80.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Wall Street Zen raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Royal Bank Of Canada set a $80.00 price objective on shares of Trade Desk and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Benchmark raised Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, November 7th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.56.

Read Our Latest Report on TTD

Trade Desk Trading Up 1.4%

The firm has a market capitalization of $17.98 billion, a PE ratio of 42.72, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a fifty day moving average price of $44.81 and a two-hundred day moving average price of $57.57.

Trade Desk (NASDAQ:TTD – Get Free Report) last announced its earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, equities research analysts predict that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Trade Desk

Large investors have recently modified their holdings of the stock. Family Legacy Financial Solutions LLC grew its position in Trade Desk by 163.2% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after buying an additional 310 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after acquiring an additional 270 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Trade Desk by 175.8% in the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after acquiring an additional 334 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Trade Desk during the third quarter worth about $26,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Trade Desk during the second quarter worth about $28,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

(Get Free Report)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.

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