Trade Desk (NASDAQ:TTD) Price Target Cut to $90.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has downgraded its price target for Trade Desk from $100.00 to $90.00, maintaining an "outperform" rating, suggesting a potential upside of 64.39% from the stock's previous close.
• Trade Desk's stock recently dropped significantly, trading at $54.75, with a 52-week low of $42.96 and a high of $141.53.
• Despite missing earnings estimates by $0.01, Trade Desk reported revenue growth of 18.7% year-over-year, totaling $694.04 million for the last quarter.

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective cut by investment analysts at Royal Bank Of Canada from $100.00 to $90.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's target price would suggest a potential upside of 64.39% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Friday, June 27th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research note on Tuesday, April 29th. Oppenheimer lifted their target price on shares of Trade Desk from $80.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. JMP Securities restated a "market outperform" rating and set a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Finally, KeyCorp lifted their price objective on Trade Desk from $80.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and a consensus target price of $92.88.

Trade Desk Price Performance

Trade Desk stock traded down $33.58 during mid-day trading on Friday, hitting $54.75. The company's stock had a trading volume of 87,526,185 shares, compared to its average volume of 10,667,302. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The company has a market cap of $26.91 billion, a PE ratio of 66.82, a price-to-earnings-growth ratio of 4.07 and a beta of 1.37. The firm's 50 day moving average is $76.70 and its 200 day moving average is $73.84.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same period last year, the company posted $0.39 earnings per share. The company's revenue was up 18.7% compared to the same quarter last year. As a group, analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after buying an additional 169 shares during the last quarter. Cerity Partners LLC grew its stake in Trade Desk by 2.1% in the 4th quarter. Cerity Partners LLC now owns 75,123 shares of the technology company's stock valued at $8,681,000 after purchasing an additional 1,559 shares during the period. Bank of Nova Scotia grew its stake in Trade Desk by 1,112.2% in the 4th quarter. Bank of Nova Scotia now owns 84,989 shares of the technology company's stock valued at $9,989,000 after purchasing an additional 77,978 shares during the period. Bessemer Group Inc. increased its position in shares of Trade Desk by 3.2% during the 4th quarter. Bessemer Group Inc. now owns 8,119 shares of the technology company's stock valued at $955,000 after purchasing an additional 251 shares during the last quarter. Finally, F M Investments LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $207,000. 67.77% of the stock is owned by institutional investors.

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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