Trade Desk (NASDAQ:TTD) Stock Price Up 6.4% – Still a Buy?
by Jessica Moore · The Cerbat GemShares of The Trade Desk (NASDAQ:TTD – Get Free Report) traded up 6.4% during mid-day trading on Monday . The stock traded as high as $40.20 and last traded at $40.11. 14,171,450 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 11,972,547 shares. The stock had previously closed at $37.68.
Wall Street Analyst Weigh In
A number of brokerages have commented on TTD. Wells Fargo & Company reduced their target price on Trade Desk from $53.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Guggenheim reissued a “buy” rating and issued a $50.00 price objective (down from $55.00) on shares of Trade Desk in a research note on Monday. Citigroup restated an “outperform” rating on shares of Trade Desk in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Trade Desk in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.97.
Read Our Latest Stock Analysis on TTD
Trade Desk Stock Performance
The firm’s 50 day moving average price is $40.76 and its two-hundred day moving average price is $54.28. The firm has a market cap of $19.40 billion, a PE ratio of 43.31, a PEG ratio of 1.48 and a beta of 1.11.
Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, analysts forecast that The Trade Desk will post 1.06 earnings per share for the current year.
Trade Desk declared that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after buying an additional 169 shares during the period. Bison Wealth LLC grew its holdings in shares of Trade Desk by 24.3% in the fourth quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after purchasing an additional 485 shares in the last quarter. State of Wyoming acquired a new stake in Trade Desk during the 1st quarter worth approximately $80,000. Federation des caisses Desjardins du Quebec lifted its holdings in Trade Desk by 0.6% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 41,510 shares of the technology company’s stock worth $2,272,000 after buying an additional 260 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Trade Desk by 16.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 556,197 shares of the technology company’s stock valued at $30,520,000 after buying an additional 80,384 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.
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.