Trade Desk (NASDAQ:TTD) Price Target Lowered to $100.00 at JMP Securities

Trade Desk (NASDAQ:TTD - Free Report) had its price target lowered by JMP Securities from $115.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company's stock.

Several other equities research analysts have also recently weighed in on the stock. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Morgan Stanley dropped their price target on shares of Trade Desk from $132.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities assumed coverage on shares of Trade Desk in a research report on Tuesday, April 29th. They set a "buy" rating and a $77.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Stock Performance

Shares of TTD stock traded down $0.03 on Friday, hitting $79.37. 11,164,740 shares of the company's stock traded hands, compared to its average volume of 5,891,300. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The company's fifty day simple moving average is $54.88 and its 200 day simple moving average is $94.71. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 101.76, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm earned $0.26 EPS. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares during the last quarter. Brown Advisory Inc. increased its position in Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after purchasing an additional 5,387,339 shares during the last quarter. Invesco Ltd. increased its position in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank bought a new stake in Trade Desk in the fourth quarter worth $524,187,000. Finally, FMR LLC increased its position in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

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.