Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by DA Davidson

Key Points

• DA Davidson upgraded Trade Desk to a “hold” rating, while the broader analyst consensus remains “Reduce,” with 25 holds, 10 sells and 4 buys and an average price target of $18.19.
• Trade Desk’s latest quarterly results missed expectations: EPS was $0.34 versus $0.40 forecast, and revenue was $715.06 million versus $752.41 million expected, though revenue increased 3% year over year.
• The stock opened at $11.98, near its 52-week low of $11.74 and well below its 52-week high of $56.39; institutional investors and hedge funds own approximately 67.77% of outstanding shares.

Trade Desk (NASDAQ:TTD - Get Free Report) was upgraded by equities researchers at DA Davidson to a "hold" rating in a note issued to investors on Monday, Zacks reports.

TTD has been the topic of a number of other research reports. Zacks Research lowered shares of Trade Desk from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Morgan Stanley set a $13.00 price objective on shares of Trade Desk in a research report on Monday, August 10th. Citigroup cut shares of Trade Desk from a "neutral" rating to a "sell" rating and reduced their target price for the company from $21.00 to $11.00 in a research note on Friday, August 7th. Cantor Fitzgerald decreased their target price on Trade Desk from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Finally, Rosenblatt Securities lowered their price target on Trade Desk from $24.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, Trade Desk presently has an average rating of "Reduce" and a consensus price target of $18.19.

Trade Desk Trading Up 0.3%

NASDAQ TTD opened at $11.98 on Monday. Trade Desk has a 1 year low of $11.74 and a 1 year high of $56.39. The company has a fifty day simple moving average of $14.35 and a 200 day simple moving average of $18.54. The company has a market cap of $5.63 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.38 and a beta of 1.00.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The firm had revenue of $715.06 million for the quarter, compared to analyst estimates of $752.41 million. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%.The firm's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. Equities research analysts forecast that Trade Desk will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised 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 buying an additional 2,018,525 shares in the last quarter. Bank of America Corp DE raised its stake in 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 worth $103,214,000 after acquiring an additional 1,141,704 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Trade Desk by 941.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,219,046 shares of the technology company's stock worth $73,040,000 after acquiring an additional 2,910,064 shares in the last quarter. Barclays PLC lifted its holdings in shares of Trade Desk by 2.6% during the fourth quarter. Barclays PLC now owns 3,128,361 shares of the technology company's stock valued at $118,753,000 after acquiring an additional 79,923 shares during the period. Finally, Amundi lifted its holdings in shares of Trade Desk by 0.6% during the first quarter. Amundi now owns 3,056,305 shares of the technology company's stock valued at $69,348,000 after acquiring an additional 17,097 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

About Trade Desk

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.

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