Trade Desk (NASDAQ:TTD) Reaches New 1-Year Low - What's Next?

Key Points

• Trade Desk shares hit a new 52-week low, falling to $11.74 during Monday trading and closing around $11.87, below both their 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with recent downgrades from Zacks Research and Citigroup, whose price target fell to $11. MarketBeat reports an average “Reduce” rating and an average price target of $18.19.
• The company missed quarterly expectations, reporting adjusted EPS of $0.34 versus $0.40 expected and revenue of $715.06 million versus $752.41 million forecast, although revenue still increased 3% year over year.

The Trade Desk (NASDAQ:TTD - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $11.74 and last traded at $11.8710, with a volume of 4091529 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

TTD has been the subject of several analyst reports. Zacks Research downgraded Trade Desk from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Citigroup downgraded shares of Trade Desk from a "neutral" rating to a "sell" rating and reduced their price target for the company from $21.00 to $11.00 in a research report on Friday, August 7th. Wells Fargo & Company set a $12.00 price objective on shares of Trade Desk and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Rosenblatt Securities reduced their target price on Trade Desk from $24.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Trade Desk in a research report on Friday, September 11th. Four investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, Trade Desk currently has an average rating of "Reduce" and an average price target of $18.19.

Trade Desk Stock Performance

The company has a market capitalization of $5.62 billion, a PE ratio of 14.23, a P/E/G ratio of 1.38 and a beta of 1.00. The stock has a 50 day moving average price of $14.46 and a two-hundred day moving average price of $18.63.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The firm had revenue of $715.06 million during 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 company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. Sell-side analysts predict that The Trade Desk will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in Trade Desk by 148.0% during the second quarter. Tidal Investments LLC now owns 122,121 shares of the technology company's stock valued at $2,208,000 after purchasing an additional 72,888 shares during the last quarter. Archford Capital Strategies LLC bought a new stake in shares of Trade Desk in the 2nd quarter worth approximately $326,000. Integrated Wealth Concepts LLC increased its holdings in Trade Desk by 84.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company's stock valued at $296,000 after buying an additional 7,480 shares during the period. RFG Advisory LLC lifted its stake in Trade Desk by 37.9% during the second quarter. RFG Advisory LLC now owns 115,773 shares of the technology company's stock worth $2,093,000 after purchasing an additional 31,821 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Trade Desk by 91.4% during the second quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company's stock worth $1,306,000 after acquiring an additional 34,484 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.