BMO Capital Markets Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Free Report) had its price objective lowered by BMO Capital Markets from $160.00 to $115.00 in a research note published on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company's stock.

A number of other research analysts have also weighed in on TTD. Royal Bank of Canada cut their target price on shares of Trade Desk from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday. Oppenheimer cut their target price on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday. UBS Group raised their price target on Trade Desk from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Wedbush raised their price target on Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Finally, New Street Research upgraded Trade Desk from a "sell" rating to a "neutral" rating and raised their price target for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.97.

Trade Desk Stock Performance

TTD traded down $1.76 during trading on Thursday, reaching $80.16. 19,263,876 shares of the company traded hands, compared to its average volume of 3,555,681. Trade Desk has a 12-month low of $73.68 and a 12-month high of $141.53. The firm has a fifty day simple moving average of $120.93 and a 200 day simple moving average of $115.58. The company has a market cap of $39.56 billion, a P/E ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. As a group, sell-side analysts expect that Trade Desk will post 0.87 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company's stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company's stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company's stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

About Trade Desk

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.