Trade Desk (NASDAQ:TTD) Receives "Outperform" Rating from Wedbush

Trade Desk (NASDAQ:TTD - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a research note issued on Friday,RTT News reports. They currently have a $86.00 price objective on the technology company's stock, up from their previous price objective of $80.00. Wedbush's price target indicates a potential upside of 16.17% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Truist Financial decreased their price target on shares of Trade Desk from $130.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets lowered their target price 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. Loop Capital decreased their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Rosenblatt Securities assumed coverage on Trade Desk in a report on Tuesday, April 29th. They issued a "buy" rating and a $77.00 price objective on the stock. Finally, Scotiabank dropped their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and an average price target of $99.35.

Trade Desk Stock Up 23.6 %

Shares of Trade Desk stock traded up $14.13 during midday trading on Friday, hitting $74.03. The company had a trading volume of 20,618,251 shares, compared to its average volume of 5,666,043. Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 94.91, a PEG ratio of 3.11 and a beta of 1.29. The company has a fifty day simple moving average of $54.55 and a 200 day simple moving average of $95.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. As a group, analysts expect that Trade Desk will post 1.06 EPS for the current year.

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

Institutional Investors Weigh In On Trade Desk

Large investors have recently added to or reduced their stakes in the stock. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Trade Desk during the 4th quarter worth approximately $235,000. Watts Gwilliam & Co. LLC lifted its holdings in Trade Desk by 3.3% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 31,259 shares of the technology company's stock worth $3,795,000 after buying an additional 1,000 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Trade Desk by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,794 shares of the technology company's stock valued at $563,000 after buying an additional 120 shares during the last quarter. RMR Wealth Builders increased its stake in shares of 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 buying an additional 89 shares during the period. Finally, West Oak Capital LLC raised its position in shares of Trade Desk by 45,996.0% during the fourth quarter. West Oak Capital LLC now owns 34,572 shares of the technology company's stock worth $4,063,000 after acquiring an additional 34,497 shares during the last quarter. Institutional investors and hedge funds 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.

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