Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, KeyCorp Analyst Says

Trade Desk (NASDAQ:TTD - Free Report) had its target price hoisted by KeyCorp from $67.00 to $80.00 in a research note released on Friday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the technology company's stock.

Other research analysts also recently issued reports about the stock. JMP Securities reduced their price objective on shares of Trade Desk from $150.00 to $115.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and dropped their target price for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Loop Capital decreased their price target on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. HSBC set a $75.00 target price on shares of Trade Desk and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Stock Up 18.6 %

Shares of NASDAQ TTD traded up $11.14 during mid-day trading on Friday, reaching $71.04. 48,867,132 shares of the company were exchanged, compared to its average volume of 5,761,137. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company's 50 day moving average price is $54.62 and its 200 day moving average price is $95.16. The stock has a market capitalization of $35.24 billion, a PE ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping 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 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 firm posted $0.26 earnings per share. The firm's revenue for the quarter was up 25.4% on a year-over-year basis. On average, sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

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

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently modified their holdings of the company. Gagnon Securities LLC purchased a new position in shares of Trade Desk during the 1st quarter valued at $361,000. Deutsche Bank AG boosted its stake in shares of Trade Desk by 17.7% in the first quarter. Deutsche Bank AG now owns 1,343,844 shares of the technology company's stock worth $73,535,000 after acquiring an additional 201,717 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Trade Desk by 5.4% during the first quarter. Chicago Partners Investment Group LLC now owns 6,978 shares of the technology company's stock worth $394,000 after purchasing an additional 357 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Trade Desk by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,985,284 shares of the technology company's stock valued at $108,635,000 after buying an additional 110,145 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Trade Desk during the first quarter valued at approximately $1,719,000. 67.77% of the stock is currently owned by institutional investors.

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.