Trade Desk (NASDAQ:TTD) Stock Gets Price Target Boost from Wells Fargo & Company

Key Points

• Wells Fargo raised its Trade Desk price target from $12 to $15 but maintained an “equal weight” rating; the new target implies 6.43% downside from the share price cited in the report.
• Analyst views remain mixed: MarketBeat reported an average rating of “Reduce” and an average price target of $18.52, with ratings spanning buy, hold, and sell.
• Trade Desk beat quarterly revenue and earnings estimates, reporting about $736 million in revenue and $0.33 EPS. Revenue was nevertheless down 0.5% year over year.

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $12.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target would suggest a potential downside of 6.43% from the stock's current price.

A number of other equities research analysts also recently weighed in on TTD. HSBC downgraded Trade Desk from a "hold" rating to a "reduce" rating and set a $10.00 price target for the company. in a report on Monday, August 10th. Cantor Fitzgerald increased their price target on Trade Desk from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday. Weiss Ratings reiterated a "sell (d)" rating on shares of Trade Desk in a research report on Friday, September 11th. Wall Street Zen cut Trade Desk from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, UBS Group reiterated a "buy" rating and set a $19.00 price objective (up from $15.00) on shares of Trade Desk in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $18.52.

Trade Desk Trading Up 4.0%

NASDAQ:TTD traded up $0.61 on Wednesday, reaching $16.03. The stock had a trading volume of 4,555,345 shares, compared to its average volume of 20,365,221. The stock has a market cap of $7.53 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.98. Trade Desk has a 12-month low of $11.62 and a 12-month high of $45.50. The company has a 50-day moving average of $13.13 and a 200 day moving average of $19.41.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.29. Trade Desk had a return on equity of 14.64% and a net margin of 11.03%. The firm had revenue of $735.97 million during the quarter, compared to analyst estimates of $650.93 million. During the same quarter last year, the firm earned $0.45 EPS. Trade Desk's quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Trade Desk will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Renaissance Technologies LLC grew its holdings in shares of Trade Desk by 59.0% in the 1st quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company's stock worth $123,446,000 after acquiring an additional 2,018,525 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Trade Desk by 33.5% during the first quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company's stock valued at $103,214,000 after purchasing an additional 1,141,704 shares during the last quarter. Amundi boosted its position in shares of Trade Desk by 0.6% in the 1st quarter. Amundi now owns 3,056,305 shares of the technology company's stock valued at $69,348,000 after purchasing an additional 17,097 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Trade Desk in the 2nd quarter valued at $39,750,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Trade Desk by 330.0% in the first quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company's stock worth $33,961,000 after buying an additional 1,148,680 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk News Roundup

Here's some of the latest news about TTD:

• Positive Sentiment: Q3 revenue was about $736 million, beating analyst estimates and the company’s prior expectations; adjusted earnings also topped forecasts. Management’s Q4 revenue outlook of $755 million exceeded the roughly $692 million consensus, helping bolster confidence in the recovery. Trade Desk Q3 results beat expectations, but analyst flags revenue composition concerns
• Positive Sentiment: Investors may also see workforce reductions and an expanded share-repurchase authorization as support for future efficiency and shareholder returns. Trade Desk: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: Q3 revenue was still down 0.5% year over year, and quarterly profit fell sharply, with margin strain and restructuring costs weighing on results. Analysts have also raised concerns about revenue composition, slowing growth, and competitive pressure in digital advertising. The Trade Desk Beats on Revenue, But the Fine Print Matters

Trade Desk Company Profile

The Trade Desk, Inc. provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display. The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.

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