Trade Desk (NASDAQ:TTD) Lowered to Sell Rating by Moffett Nathanson

Key Points

• Moffett Nathanson has downgraded Trade Desk (NASDAQ:TTD) from a "neutral" to a "sell" rating, setting a price target of $45.00, indicating a potential downside of 17.45% from its previous close.
• Trade Desk recently reported $0.41 earnings per share, which missed analysts' estimates by $0.01, while revenue was up 18.7% year-over-year, totaling $694.04 million.
• Despite the downgrade, the company has a consensus rating of "Moderate Buy", with a total of 24 buy ratings from analysts compared to two sell ratings.

Trade Desk (NASDAQ:TTD - Get Free Report) was downgraded by equities research analysts at Moffett Nathanson from a "neutral" rating to a "sell" rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $45.00 price target on the technology company's stock. Moffett Nathanson's price target suggests a potential downside of 16.47% from the stock's current price.

A number of other equities research analysts have also issued reports on the stock. Guggenheim cut their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Citigroup restated a "neutral" rating and issued a $65.00 price target (down previously from $90.00) on shares of Trade Desk in a research report on Friday. Morgan Stanley upped their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Stifel Nicolaus raised their target price on shares of Trade Desk from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Trade Desk Stock Performance

Shares of Trade Desk stock traded down $0.36 on Friday, hitting $53.87. The company's stock had a trading volume of 25,634,975 shares, compared to its average volume of 10,894,144. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The firm has a fifty day moving average price of $76.31 and a 200-day moving average price of $72.70. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 64.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently modified their holdings of the business. Cornerstone Wealth Group LLC grew its holdings in Trade Desk by 2.8% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company's stock valued at $321,000 after purchasing an additional 122 shares during the last quarter. STF Management LP grew its holdings in Trade Desk by 2.1% during the 2nd quarter. STF Management LP now owns 6,627 shares of the technology company's stock valued at $477,000 after purchasing an additional 136 shares during the last quarter. Mutual Advisors LLC grew its holdings in Trade Desk by 3.5% during the 2nd quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company's stock valued at $305,000 after purchasing an additional 142 shares during the last quarter. Ashton Thomas Securities LLC boosted its position in Trade Desk by 2.6% in the 1st quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company's stock valued at $315,000 after buying an additional 144 shares during the period. Finally, Anchor Investment Management LLC boosted its position in Trade Desk by 17.2% in the 4th 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 during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

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.