Trade Desk (NASDAQ:TTD) Receives Buy Rating from Needham & Company LLC

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $84.00 price target on the technology company's stock. Needham & Company LLC's target price indicates a potential upside of 39.94% from the stock's current price.

Several other research analysts have also commented on TTD. Scotiabank cut 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 report on Thursday, February 13th. Truist Financial reduced their target price on Trade Desk from $130.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets reduced their target price on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. HSBC set a $75.00 price target on shares of Trade Desk and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their price target on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $100.84.

Trade Desk Stock Up 6.3 %

Shares of NASDAQ:TTD opened at $60.02 on Friday. The company has a market capitalization of $29.78 billion, a P/E ratio of 76.95, a P/E/G ratio of 3.11 and a beta of 1.29. Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The stock's fifty day simple moving average is $54.55 and its 200-day simple moving average is $95.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its 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. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, sell-side analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of TTD. Focus Financial Network Inc. lifted its holdings in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock valued at $456,000 after buying an additional 84 shares during the last quarter. RMR Wealth Builders lifted its stake in Trade Desk by 0.8% in the fourth 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. Quotient Wealth Partners LLC grew its position in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after acquiring an additional 94 shares in the last quarter. TFB Advisors LLC increased its stake in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after purchasing an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC raised its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after purchasing an additional 96 shares in the last quarter. 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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