Trade Desk (NASDAQ:TTD) Shares Up 1.4% – Still a Buy?

by · The Markets Daily

Shares of The Trade Desk (NASDAQ:TTD – Get Free Report) were up 1.4% during trading on Wednesday . The company traded as high as $37.96 and last traded at $37.17. Approximately 13,444,092 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 12,206,443 shares. The stock had previously closed at $36.64.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Susquehanna decreased their target price on Trade Desk from $135.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Jefferies Financial Group set a $40.00 price target on Trade Desk and gave the company a “hold” rating in a research report on Thursday, December 11th. Benchmark upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Friday, November 7th. Evercore ISI dropped their price target on Trade Desk from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Wedbush decreased their target price on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.56.

Read Our Latest Research Report on TTD

Trade Desk Stock Performance

The company has a market capitalization of $17.98 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. The business has a 50 day moving average of $44.81 and a 200-day moving average 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The business had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the previous year, the business posted $0.41 earnings per share. Trade Desk’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the stock. New Mexico Educational Retirement Board bought a new position in Trade Desk during the 3rd quarter valued at approximately $990,000. IFP Advisors Inc boosted its holdings in Trade Desk by 12.5% in the third quarter. IFP Advisors Inc now owns 12,080 shares of the technology company’s stock worth $623,000 after acquiring an additional 1,343 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Trade Desk in the third quarter worth $17,424,000. EMC Capital Management increased its holdings in shares of Trade Desk by 244.7% during the third quarter. EMC Capital Management now owns 24,651 shares of the technology company’s stock valued at $1,208,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Trade Desk by 263.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,619 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 14,947 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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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