Trade Desk (NASDAQ:TTD) Price Target Lowered to $95.00 at Truist Financial

Trade Desk (NASDAQ:TTD) had its target price reduced by Truist Financial from $130.00 to $95.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Piper Sandler started coverage on shares of Trade Desk in a research note on Thursday. They set a “neutral” rating and a $55.00 price target on the stock. Royal Bank of Canada reduced their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Scotiabank lowered their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Finally, DA Davidson reduced their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $104.10.

Trade Desk Trading Up 3.7 %

NASDAQ:TTD opened at $50.26 on Thursday. The company has a market cap of $24.93 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The company has a 50 day simple moving average of $61.52 and a two-hundred day simple moving average of $101.56. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Research analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Trade Desk in the fourth quarter worth about $524,187,000. Brown Advisory Inc. lifted its stake in shares of Trade Desk by 3,037.0% during the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock worth $319,089,000 after acquiring an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. bought a new position in Trade Desk in the 4th quarter valued at $231,570,000. Franklin Resources Inc. lifted its position in shares of Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after purchasing an additional 1,354,891 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.