Trade Desk (NASDAQ:TTD) Price Target Raised to $65.00 at Piper Sandler

Trade Desk (NASDAQ:TTD - Get Free Report) had its price target increased by research analysts at Piper Sandler from $55.00 to $65.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has a "neutral" rating on the technology company's stock. Piper Sandler's target price would indicate a potential downside of 18.11% from the company's previous close.

TTD has been the subject of a number of other reports. Wedbush reissued an "outperform" rating and set a $86.00 price objective (up from $80.00) on shares of Trade Desk in a research report on Friday. BMO Capital Markets lowered their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Truist Financial boosted their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday. KeyCorp boosted their price objective on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Susquehanna lowered their price objective on Trade Desk from $150.00 to $135.00 and set a "positive" 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.88.

Trade Desk Stock Down 0.0%

NASDAQ TTD traded down $0.03 during trading on Friday, hitting $79.37. The stock had a trading volume of 11,164,740 shares, compared to its average volume of 5,891,300. The company has a market capitalization of $39.37 billion, a PE ratio of 101.76, a PEG ratio of 3.11 and a beta of 1.29. The firm has a 50 day moving average price of $54.88 and a 200 day moving average price of $94.71. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53.

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

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

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Trade Desk in the 4th quarter valued at about $235,000. Watts Gwilliam & Co. LLC grew its stake in Trade Desk by 3.3% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 31,259 shares of the technology company's stock valued at $3,795,000 after acquiring an additional 1,000 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Trade Desk by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,794 shares of the technology company's stock valued at $563,000 after acquiring an additional 120 shares during the last quarter. RMR Wealth Builders grew its stake in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock valued at $1,247,000 after acquiring an additional 89 shares during the last quarter. Finally, West Oak Capital LLC grew its stake in Trade Desk by 45,996.0% in the 4th quarter. West Oak Capital LLC now owns 34,572 shares of the technology company's stock valued at $4,063,000 after acquiring an additional 34,497 shares during the last quarter. 67.77% of the stock is 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.