Trade Desk (NASDAQ:TTD) Now Covered by Analysts at Rosenblatt Securities

Equities researchers at Rosenblatt Securities began coverage on shares of Trade Desk (NASDAQ:TTD - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a "buy" rating and a $77.00 price target on the technology company's stock. Rosenblatt Securities' price objective points to a potential upside of 45.12% from the stock's current price.

Other research analysts also recently issued research reports about the stock. HSBC set a $75.00 price objective on shares of Trade Desk and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Robert W. Baird lowered their price target on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citigroup cut their price objective 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 decreased their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Royal Bank of Canada cut their price target on Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and a consensus price target of $101.32.

Trade Desk Trading Down 1.1 %

Shares of Trade Desk stock traded down $0.57 during trading hours on Tuesday, reaching $53.06. 8,824,234 shares of the company's stock were exchanged, compared to its average volume of 5,418,205. The company has a 50 day moving average of $56.04 and a two-hundred day moving average of $97.77. The stock has a market cap of $26.32 billion, a P/E ratio of 68.03, a P/E/G ratio of 3.11 and a beta of 1.56. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

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

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Louisiana State Employees Retirement System increased its holdings in shares of Trade Desk by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the technology company's stock worth $1,811,000 after buying an additional 300 shares in the last quarter. Schechter Investment Advisors LLC increased its holdings in Trade Desk by 36.7% in the 1st quarter. Schechter Investment Advisors LLC now owns 6,748 shares of the technology company's stock worth $369,000 after purchasing an additional 1,813 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Trade Desk by 2.5% during the first quarter. Arizona State Retirement System now owns 131,916 shares of the technology company's stock valued at $7,218,000 after purchasing an additional 3,212 shares in the last quarter. Berbice Capital Management LLC grew its holdings in shares of Trade Desk by 87.5% during the first quarter. Berbice Capital Management LLC now owns 750 shares of the technology company's stock worth $41,000 after purchasing an additional 350 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Trade Desk by 1.5% during the first quarter. Xponance Inc. now owns 87,180 shares of the technology company's stock worth $4,770,000 after purchasing an additional 1,323 shares during 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.