Citigroup Reiterates "Neutral" Rating for Trade Desk (NASDAQ:TTD)

Key Points

• Citigroup has reiterated a "neutral" rating for Trade Desk (NASDAQ:TTD) with a price target of $65.00, indicating a potential downside of 26.41% from the stock's previous close.
• Several research firms have differing ratings on Trade Desk, with JMP Securities maintaining an "outperform" rating and a target price of $100.00, while the average consensus rating is a "Moderate Buy" with a target price of $95.00.
• Trade Desk reported $0.41 earnings per share for the last quarter, missing estimates, yet showed an 18.7% revenue growth from the previous year, totaling $694.04 million.

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Citigroup in a research note issued to investors on Friday. They presently have a $65.00 price target on the technology company's stock. Citigroup's price target suggests a potential downside of 26.41% from the stock's previous close.

Several other research firms have also issued reports on TTD. JMP Securities restated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. DA Davidson decreased their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wells Fargo & Company cut Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $74.00 to $68.00 in a research report on Thursday, June 26th. BTIG Research lifted their price target on Trade Desk from $79.00 to $97.00 and gave the company a "buy" rating in a research report on Monday. Finally, Truist Financial increased their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Trade Desk Trading Down 1.4%

Shares of TTD stock opened at $88.33 on Friday. The firm has a market capitalization of $43.41 billion, a P/E ratio of 107.72, a price-to-earnings-growth ratio of 4.07 and a beta of 1.37. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The firm's fifty day simple moving average is $76.70 and its 200 day simple moving average is $73.84.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. During the same quarter in the previous year, the firm earned $0.39 EPS. The company's revenue was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that Trade Desk will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently added to or reduced their stakes in TTD. Brown Advisory Inc. grew its holdings in Trade Desk by 198.4% in the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after buying an additional 5,387,339 shares in the last quarter. Nuveen LLC acquired a new position in Trade Desk in the 1st quarter valued at $191,935,000. Jennison Associates LLC grew its holdings in Trade Desk by 17.9% in the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company's stock valued at $1,027,114,000 after buying an additional 2,169,252 shares in the last quarter. Vanguard Group Inc. grew its holdings in Trade Desk by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after buying an additional 1,567,491 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Trade Desk by 255.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,756,805 shares of the technology company's stock valued at $96,132,000 after buying an additional 1,262,492 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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