Trade Desk (NASDAQ:TTD) Price Target Cut to $52.00 by Analysts at KeyCorp

Trade Desk (NASDAQ:TTDGet Rating) had its price objective reduced by KeyCorp from $55.00 to $52.00 in a report issued on Monday, The Fly reports. They currently have an overweight rating on the technology company’s stock.

A number of other brokerages have also recently commented on TTD. Evercore ISI dropped their target price on shares of Trade Desk from $55.00 to $50.00 and set an outperform rating on the stock in a report on Thursday, July 7th. Wells Fargo & Company dropped their target price on shares of Trade Desk from $120.00 to $100.00 in a report on Wednesday, May 11th. Jefferies Financial Group dropped their target price on shares of Trade Desk from $105.00 to $85.00 in a report on Monday, May 9th. Susquehanna Bancshares dropped their target price on shares of Trade Desk from $125.00 to $95.00 in a report on Wednesday, May 11th. Finally, DA Davidson dropped their target price on shares of Trade Desk from $105.00 to $65.00 in a report on Thursday, May 12th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk has a consensus rating of Moderate Buy and an average target price of $85.06.

Trade Desk Stock Up 1.0 %

NASDAQ:TTD opened at $45.43 on Monday. The stock has a market cap of $22.03 billion, a P/E ratio of 216.33, a price-to-earnings-growth ratio of 6.70 and a beta of 2.10. The firm’s fifty day simple moving average is $46.95 and its 200 day simple moving average is $59.42. Trade Desk has a twelve month low of $39.00 and a twelve month high of $114.09.

Trade Desk (NASDAQ:TTDGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Trade Desk had a net margin of 7.78% and a return on equity of 7.08%. The business had revenue of $315.32 million for the quarter, compared to analysts’ expectations of $304.28 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, analysts expect that Trade Desk will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director David B. Wells bought 17,500 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was acquired at an average price of $45.81 per share, with a total value of $801,675.00. Following the transaction, the director now owns 106,570 shares in the company, valued at $4,881,971.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC increased its position in shares of Trade Desk by 27.6% during the 2nd quarter. Lindbrook Capital LLC now owns 2,668 shares of the technology company’s stock valued at $112,000 after purchasing an additional 577 shares during the last quarter. Jag Capital Management LLC grew its stake in shares of Trade Desk by 645.0% during the 2nd quarter. Jag Capital Management LLC now owns 289,103 shares of the technology company’s stock valued at $12,111,000 after acquiring an additional 250,299 shares during the period. Heritage Investors Management Corp grew its stake in shares of Trade Desk by 12.6% during the 2nd quarter. Heritage Investors Management Corp now owns 4,900 shares of the technology company’s stock valued at $205,000 after acquiring an additional 550 shares during the period. Arizona State Retirement System grew its stake in shares of Trade Desk by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 122,968 shares of the technology company’s stock valued at $5,151,000 after acquiring an additional 1,583 shares during the period. Finally, CWM LLC grew its stake in shares of Trade Desk by 22.8% during the 2nd quarter. CWM LLC now owns 8,248 shares of the technology company’s stock valued at $345,000 after acquiring an additional 1,530 shares during the period. Hedge funds and other institutional investors own 63.40% of the company’s stock.

About Trade Desk

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

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