Truist Financial Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Free Report) had its target price hoisted by Truist Financial from $95.00 to $100.00 in a report published on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the technology company's stock.

Other analysts have also issued reports about the stock. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Stifel Nicolaus lowered their price objective on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Citigroup decreased their price target on shares of Trade Desk from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Evercore ISI lowered shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price target for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald decreased their price target on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Trading Down 0.0%

Shares of NASDAQ TTD traded down $0.03 during mid-day trading on Friday, reaching $79.37. The company had a trading volume of 11,164,740 shares, compared to its average volume of 5,891,300. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The business's 50-day moving average is $54.88 and its 200-day moving average is $94.71. The stock has a market cap of $39.37 billion, a price-to-earnings ratio of 101.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities research analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Element Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter worth $2,538,000. Trivium Point Advisory LLC raised its holdings in shares of Trade Desk by 99.0% during the 1st quarter. Trivium Point Advisory LLC now owns 3,910 shares of the technology company's stock worth $214,000 after acquiring an additional 1,945 shares during the period. Oak Ridge Investments LLC raised its holdings in shares of Trade Desk by 114.6% during the 1st quarter. Oak Ridge Investments LLC now owns 7,951 shares of the technology company's stock worth $435,000 after acquiring an additional 4,246 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in shares of Trade Desk by 29.4% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 96,419 shares of the technology company's stock worth $5,276,000 after acquiring an additional 21,933 shares during the period. Finally, E Fund Management Co. Ltd. raised its holdings in shares of Trade Desk by 81.0% during the 1st quarter. E Fund Management Co. Ltd. now owns 11,515 shares of the technology company's stock worth $630,000 after acquiring an additional 5,152 shares during the period. Hedge funds and other institutional investors 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.