Trade Desk (NASDAQ:TTD) Stock Price Up 10.8% on Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s stock price rose 10.8% during trading on Monday after Oppenheimer raised their price target on the stock from $75.00 to $80.00. Oppenheimer currently has an outperform rating on the stock. Trade Desk traded as high as $79.36 and last traded at $78.71. Approximately 13,088,883 shares were traded during trading, an increase of 126% from the average daily volume of 5,797,009 shares. The stock had previously closed at $71.04.

Several other equities research analysts also recently issued reports on the company. HSBC set a $75.00 price objective on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. DA Davidson dropped their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday. Citigroup boosted their price target on Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a report on Friday. Truist Financial raised their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Evercore ISI lowered shares of Trade Desk from an "outperform" rating to an "inline" rating and lowered their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.88.

Hedge Funds Weigh In On Trade Desk

Institutional investors and hedge funds have recently bought and sold shares of the business. Investment Management Corp VA ADV acquired a new position in Trade Desk in the fourth quarter worth $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter worth $26,000. Banque Cantonale Vaudoise acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $26,000. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $27,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Up 10.8%

The firm has a market cap of $39.06 billion, a price-to-earnings ratio of 101.40, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The business's fifty day moving average is $54.62 and its two-hundred day moving average is $94.99.

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 (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 business 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 firm posted $0.26 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company's board of directors believes its shares are undervalued.

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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