Brokerages Set The Trade Desk, Inc. (NASDAQ:TTD) Target Price at $101.34

Shares of The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirty-one brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $101.32.

A number of equities analysts recently issued reports on TTD shares. Cantor Fitzgerald dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their target price on Trade Desk from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company reduced their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Oppenheimer dropped their price objective on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the company. Xponance Inc. grew its holdings in shares of Trade Desk by 1.5% in the first quarter. Xponance Inc. now owns 87,180 shares of the technology company's stock valued at $4,770,000 after purchasing an additional 1,323 shares in the last quarter. MJP Associates Inc. ADV grew its stake in Trade Desk by 80.1% during the 1st quarter. MJP Associates Inc. ADV now owns 4,576 shares of the technology company's stock worth $250,000 after purchasing an additional 2,035 shares in the last quarter. Correct Capital Wealth Management increased its holdings in Trade Desk by 104.0% during the 1st quarter. Correct Capital Wealth Management now owns 9,094 shares of the technology company's stock worth $498,000 after purchasing an additional 4,637 shares during the period. Alps Advisors Inc. boosted its stake in shares of Trade Desk by 75.0% in the 1st quarter. Alps Advisors Inc. now owns 28,390 shares of the technology company's stock valued at $1,554,000 after buying an additional 12,168 shares during the period. Finally, LBP AM SA increased its stake in shares of Trade Desk by 116.1% during the first quarter. LBP AM SA now owns 64,154 shares of the technology company's stock worth $3,511,000 after buying an additional 34,465 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded up $0.91 during mid-day trading on Friday, hitting $54.54. The stock had a trading volume of 1,686,474 shares, compared to its average volume of 5,382,796. The firm has a market cap of $27.05 billion, a P/E ratio of 69.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The business has a 50 day moving average price of $56.47 and a two-hundred day moving average price of $98.21.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.