DA Davidson Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Free Report) had its target price lowered by DA Davidson from $103.00 to $92.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other equities analysts also recently issued reports on TTD. Morgan Stanley dropped their price target on Trade Desk from $132.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets reduced their target price on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Citigroup decreased their price target on shares of Trade Desk from $70.00 to $63.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial cut their price objective on shares of Trade Desk from $130.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Trading Up 18.6 %

NASDAQ:TTD traded up $11.14 on Friday, reaching $71.04. 48,867,132 shares of the stock traded hands, compared to its average volume of 5,761,137. The company has a market capitalization of $35.24 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The company's fifty day simple moving average is $54.62 and its 200 day simple moving average is $95.16.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Equities analysts anticipate that Trade Desk will post 1.06 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of the stock. Focus Financial Network Inc. raised its holdings in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after buying an additional 84 shares during the last quarter. RMR Wealth Builders lifted its position in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock worth $1,247,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC grew its stake in Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock valued at $276,000 after purchasing an additional 94 shares during the last quarter. TFB Advisors LLC raised its stake in shares of Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after purchasing an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC lifted its holdings in shares of Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after purchasing an additional 96 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.