Trade Desk (NASDAQ:TTD) Given New $100.00 Price Target at Citizens Jmp

Trade Desk (NASDAQ:TTD - Get Free Report) had its price target reduced by research analysts at Citizens Jmp from $115.00 to $100.00 in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has an "outperform" rating on the technology company's stock. Citizens Jmp's price objective suggests a potential upside of 25.99% from the company's previous close.

TTD has been the subject of a number of other reports. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price objective for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Loop Capital cut their target price on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. BMO Capital Markets dropped their price target on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial raised their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research note 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's stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $98.88.

Trade Desk Stock Performance

TTD traded down $0.03 during trading on Friday, reaching $79.37. The company's stock had a trading volume of 11,164,740 shares, compared to its average volume of 5,891,300. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The company's fifty day moving average price is $54.88 and its 200-day moving average price is $94.71. The company has a market capitalization of $39.37 billion, a price-to-earnings ratio of 101.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the company earned $0.26 EPS. The company's quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Trade Desk by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Brown Advisory Inc. boosted its position in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after acquiring an additional 5,387,339 shares in the last quarter. Invesco Ltd. boosted its position in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares in the last quarter. Norges Bank acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $524,187,000. Finally, FMR LLC boosted its position in shares of Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. 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.