Piper Sandler Begins Coverage on Trade Desk (NASDAQ:TTD)

Piper Sandler initiated coverage on shares of Trade Desk (NASDAQ:TTD - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm set a "neutral" rating and a $55.00 price target on the technology company's stock. Piper Sandler's price objective would indicate a potential upside of 14.46% from the company's current price.

A number of other brokerages have also issued reports on TTD. KeyCorp lowered their target price on shares of Trade Desk from $74.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. UBS Group reduced their price objective on Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Benchmark raised Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Citigroup decreased their price objective on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $104.10.

Trade Desk Stock Performance

TTD stock traded up $0.49 during mid-day trading on Thursday, reaching $48.05. 4,840,567 shares of the stock traded hands, compared to its average volume of 5,305,265. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The stock has a market capitalization of $23.84 billion, a PE ratio of 61.54, a PEG ratio of 3.11 and a beta of 1.56. The business has a 50-day moving average price of $60.03 and a two-hundred day moving average price of $101.03.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.38% and a net margin of 16.08%. On average, equities analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company's stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.72% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of TTD. Investment Management Corp VA ADV purchased a new stake in Trade Desk in the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC raised its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $34,000. Finally, Zions Bancorporation N.A. raised its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Company Profile

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.