Trade Desk (NASDAQ:TTD) Given New $100.00 Price Target at JMP Securities

Trade Desk (NASDAQ:TTD - Get Free Report) had its price target lowered by research analysts at JMP Securities from $115.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the technology company's stock. JMP Securities' price target suggests a potential upside of 36.56% from the stock's current price.

A number of other research analysts have also recently commented on TTD. Wedbush restated an "outperform" rating and issued a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a research note on Friday. Oppenheimer reduced their target price on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada cut their price target on Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company lowered their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.94.

Trade Desk Stock Performance

Shares of TTD stock traded up $13.33 on Friday, hitting $73.23. 28,053,464 shares of the company's stock traded hands, compared to its average volume of 5,690,598. The stock has a market capitalization of $36.33 billion, a price-to-earnings ratio of 93.88, a P/E/G ratio of 3.11 and a beta of 1.29. The company's fifty day simple moving average is $54.55 and its 200 day simple moving average is $95.64. Trade Desk has a one year low of $42.96 and a one year high of $141.53.

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

Trade Desk declared that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently bought and sold shares of the business. Lyell Wealth Management LP raised its position in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after buying an additional 19,204 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after buying an additional 51,603 shares during the period. Moody National Bank Trust Division bought a new stake in Trade Desk during the 4th quarter valued at $985,000. Yousif Capital Management LLC boosted its position in Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock valued at $688,000 after acquiring an additional 300 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Trade Desk by 46.3% in the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock valued at $660,000 after acquiring an additional 1,732 shares during the period. Hedge funds and other 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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