Trade Desk (NASDAQ:TTD) Price Target Cut to $100.00 by Analysts at Citizens Jmp

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective dropped by Citizens Jmp from $115.00 to $100.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has an "outperform" rating on the technology company's stock. Citizens Jmp's price target would suggest a potential upside of 36.56% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Loop Capital lowered their price target on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Guggenheim reduced their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday. Scotiabank dropped their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial lifted their price target on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and an average price target of $99.94.

Trade Desk Stock Performance

Shares of TTD traded up $13.33 during mid-day trading on Friday, hitting $73.23. 28,053,464 shares of the company's stock were exchanged, compared to its average volume of 5,690,598. The stock's 50-day moving average is $54.55 and its 200-day moving average is $95.64. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company has a market cap 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.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $575.62 million. During the same quarter last year, the company posted $0.26 EPS. The firm's revenue was up 25.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter valued at $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC increased its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds 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.

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