Trade Desk (NASDAQ:TTD) Stock Price Up 0.6% - Here's Why

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s share price shot up 0.6% on Wednesday . The stock traded as high as $79.95 and last traded at $78.57. 2,746,970 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 5,903,228 shares. The stock had previously closed at $78.14.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTD. Needham & Company LLC reissued a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a report on Friday, May 9th. Benchmark raised Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. DA Davidson reduced their price target on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald reduced their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Finally, Citizens Jmp cut their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.88.

Trade Desk Stock Down 0.9%

The company has a market cap of $38.42 billion, a price-to-earnings ratio of 99.28, a PEG ratio of 3.11 and a beta of 1.29. The firm has a 50 day moving average price of $55.14 and a two-hundred day moving average price of $94.60.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk during the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Banque Cantonale Vaudoise purchased a new position in Trade Desk during the 1st quarter valued at about $26,000. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter worth approximately $27,000. Finally, von Borstel & Associates Inc. bought a new stake in shares of Trade Desk in the 1st quarter worth approximately $31,000. Institutional investors 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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