Stifel Nicolaus Lowers Trade Desk (NASDAQ:TTD) Price Target to $90.00

Key Points

• Stifel Nicolaus has lowered Trade Desk's price target from $95.00 to $90.00, while maintaining a "buy" rating, indicating a potential upside of 62.28% from the stock's previous close.
• The company's stock experienced a significant decline, trading down 37.2% to $55.46, contrasting sharply with its 1 year high of $141.53.
• Insider selling has been observed, with CEO Jeffrey Terry Green selling 26,684 shares, representing a 61.06% decrease in his position.

Trade Desk (NASDAQ:TTD - Get Free Report) had its target price cut by investment analysts at Stifel Nicolaus from $95.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Stifel Nicolaus' price target indicates a potential upside of 62.28% from the stock's previous close.

Several other brokerages have also recently commented on TTD. Piper Sandler lowered their price target on Trade Desk from $65.00 to $64.00 and set a "neutral" rating for the company in a research note on Friday. HSBC set a $75.00 price target on Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. KeyCorp raised their price objective on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada increased their price target on Trade Desk from $85.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets lowered their target price on shares of Trade Desk from $115.00 to $98.00 and set an "outperform" rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.18.

Trade Desk Trading Down 37.2%

NASDAQ:TTD traded down $32.87 on Friday, hitting $55.46. 67,623,822 shares of the company's stock traded hands, compared to its average volume of 10,506,834. The company has a market cap of $27.26 billion, a PE ratio of 67.29, 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 has a 50-day moving average price of $76.70 and a 200-day moving average price of $73.84.

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

Insider Buying and Selling at Trade Desk

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Group LLC increased its position in shares of Trade Desk by 2.8% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company's stock valued at $321,000 after buying an additional 122 shares in the last quarter. STF Management LP grew its stake in Trade Desk by 2.1% in the second quarter. STF Management LP now owns 6,627 shares of the technology company's stock valued at $477,000 after acquiring an additional 136 shares during the period. Mutual Advisors LLC grew its stake in Trade Desk by 3.5% in the second quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company's stock valued at $305,000 after acquiring an additional 142 shares during the period. Ashton Thomas Securities LLC increased its stake in Trade Desk by 2.6% during the 1st quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company's stock worth $315,000 after purchasing an additional 144 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Trade Desk by 17.2% in the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock valued at $120,000 after buying an additional 150 shares in the last quarter. Institutional investors 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.

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