Trade Desk (NASDAQ:TTD) Stock Price Breaks Below 50-Day Moving Average – Should You Sell?

by · The Markets Daily

The Trade Desk (NASDAQ:TTD – Get Free Report)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $13.24 and traded as low as $12.42. Trade Desk shares last traded at $12.59, with a volume of 9,412,392 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Arete Research set a $11.60 price target on shares of Trade Desk and gave the stock a “sell” rating in a report on Tuesday, June 30th. Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Wolfe Research reissued an “outperform” rating and issued a $16.00 target price on shares of Trade Desk in a research report on Friday, August 7th. UBS Group set a $15.00 target price on Trade Desk and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Guggenheim reaffirmed a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Trade Desk in a research report on Friday, September 18th. Four investment 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 data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $18.16.

Check Out Our Latest Stock Report on Trade Desk

Trade Desk Trading Down 1.2%

The business’s 50-day simple moving average is $13.21 and its 200-day simple moving average is $17.60. The company has a market capitalization of $6.11 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.41 and a beta of 1.00.

Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The business had revenue of $715.06 million during the quarter, compared to analysts’ expectations of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Sell-side analysts forecast that The Trade Desk will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in shares of Trade Desk by 59.0% during the 1st quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock valued at $123,446,000 after buying an additional 2,018,525 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Trade Desk by 33.5% in the first 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. Assenagon Asset Management S.A. boosted its stake in shares of Trade Desk by 941.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,219,046 shares of the technology company’s stock worth $73,040,000 after buying an additional 2,910,064 shares during the last quarter. Amundi boosted its stake in shares of Trade Desk by 0.6% in the first quarter. Amundi now owns 3,056,305 shares of the technology company’s stock worth $69,348,000 after buying an additional 17,097 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Trade Desk during the 2nd quarter worth approximately $39,750,000. 67.77% of the stock is owned by institutional investors and hedge funds.

About Trade Desk

(Get Free Report)

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.

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