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

Trade Desk (NASDAQ:TTD - Get Free Report) had its target price raised by equities researchers at Citigroup from $63.00 to $82.00 in a research report issued on Friday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the technology company's stock. Citigroup's target price would suggest a potential upside of 11.98% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Rosenblatt Securities assumed coverage on Trade Desk in a research note on Tuesday, April 29th. They issued a "buy" rating and a $77.00 target price on the stock. KeyCorp raised their price target on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday. Wells Fargo & Company lowered their price target on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Susquehanna cut their price objective on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and an average target price of $99.94.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $13.33 during mid-day trading on Friday, hitting $73.23. The stock had a trading volume of 28,053,464 shares, compared to its average volume of 5,690,598. The company's 50 day moving average is $54.55 and its 200-day moving average is $95.64. Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market cap of $36.33 billion, a PE ratio of 93.88, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business 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%. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, equities research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Trade Desk

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after purchasing an additional 5,387,339 shares during the last quarter. Invesco Ltd. increased its stake in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after buying an additional 198,822 shares in the last quarter. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter valued at about $524,187,000. Finally, FMR LLC lifted its position in 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 buying an additional 1,172,082 shares in the last quarter. 67.77% of the stock is 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.

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