Trade Desk (NASDAQ:TTD) Stock Gets Price Target Increase from Guggenheim

Key Points

• Guggenheim raised its Trade Desk price target from $13 to $16 while maintaining a neutral rating, implying about 7.2% upside from the stock’s current price.
• Analyst sentiment is mixed: MarketBeat reports an average target of $18.55 and an overall “Reduce” rating, with 26 Hold, four Buy, and nine Sell ratings.
• Trade Desk beat quarterly estimates, reporting $0.33 EPS and about $736 million in revenue, though revenue was down 0.5% year over year. Its forecast of $755 million in next-quarter revenue exceeded consensus estimates.

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective upped by Guggenheim from $13.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Guggenheim's price target indicates a potential upside of 7.17% from the stock's current price.

A number of other equities research analysts have also recently commented on TTD. Evercore set a $14.00 target price on Trade Desk in a research report on Tuesday, September 8th. Susquehanna restated a "neutral" rating and issued a $17.00 price target (up from $14.00) on shares of Trade Desk in a research note on Tuesday. Moffett Nathanson set a $6.00 price target on Trade Desk in a report on Friday, August 7th. Rosenblatt Securities increased their price target on Trade Desk from $12.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, BMO Capital Markets lowered Trade Desk from an "outperform" rating to a "market perform" rating and set a $15.00 price objective on the stock. in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $18.55.

Trade Desk Price Performance

TTD opened at $14.93 on Tuesday. The firm has a fifty day moving average price of $13.09 and a 200 day moving average price of $19.52. Trade Desk has a 1 year low of $11.62 and a 1 year high of $45.50. The stock has a market cap of $7.02 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.43 and a beta of 0.98.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.04 by $0.29. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The company had revenue of $735.97 million for the quarter, compared to analyst estimates of $650.93 million. During the same quarter last year, the business earned $0.45 earnings per share. The firm's revenue was down .5% on a year-over-year basis. Equities analysts expect that Trade Desk will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TTD. Tema ETFs LLC raised its holdings in Trade Desk by 9.5% in the 2nd quarter. Tema ETFs LLC now owns 8,360 shares of the technology company's stock worth $151,000 after purchasing an additional 725 shares during the period. Sunbelt Securities Inc. grew its holdings in Trade Desk by 4.1% during the first quarter. Sunbelt Securities Inc. now owns 24,976 shares of the technology company's stock valued at $567,000 after purchasing an additional 983 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Trade Desk by 159.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the technology company's stock valued at $46,000 after purchasing an additional 1,247 shares during the period. New Mexico Educational Retirement Board grew its holdings in Trade Desk by 6.3% during the second quarter. New Mexico Educational Retirement Board now owns 21,900 shares of the technology company's stock valued at $396,000 after purchasing an additional 1,300 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position in Trade Desk by 13.4% in the first quarter. Chicago Partners Investment Group LLC now owns 12,707 shares of the technology company's stock worth $299,000 after buying an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Key Headlines Impacting Trade Desk

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: Q3 results topped expectations: The Trade Desk reported revenue of about $736 million and adjusted earnings of $0.33 per share, beating analyst estimates. Benzinga article
• Positive Sentiment: Strong Q4 guidance: The company forecast revenue of $755 million, well above the roughly $692 million consensus, signaling a stronger near-term outlook. Benzinga article
• Positive Sentiment: Larger buyback: The Trade Desk added $731 million to its repurchase authorization, bringing the program to $1 billion. Buybacks can support per-share results and signal management’s confidence. Seeking Alpha article
• Positive Sentiment: AI and connected-TV opportunity: CEO Jeff Green highlighted AI tools and the potential for AI to increase demand for advertising data and decision-making, alongside growth opportunities in connected TV. Stocktwits article
• Negative Sentiment: Growth remains a concern: Q3 revenue declined 0.5% year over year, and Green said results remain below the growth level the company expects of itself. That may temper enthusiasm about the beat and outlook. Stocktwits article

About Trade Desk

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.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.

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