The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) traded up 3.5% during mid-day trading on Thursday . The stock traded as high as $59.05 and last traded at $58.44. 4,994,236 shares traded hands during trading, a decline of 9% from the average session volume of 5,515,012 shares. The stock had previously closed at $56.46.
Analyst Ratings Changes
Several research firms recently weighed in on TTD. Loop Capital cut 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. Morgan Stanley dropped their price objective on Trade Desk from $132.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Cantor Fitzgerald decreased their target price on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Rosenblatt Securities started coverage on shares of Trade Desk in a research note on Tuesday, April 29th. They set a "buy" rating and a $77.00 target price on the stock. Finally, Oppenheimer reduced their price target on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Seven equities 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.84.
Get Our Latest Stock Analysis on TTD
Trade Desk Stock Up 6.3 %
The business has a 50 day moving average price of $54.69 and a 200 day moving average price of $96.04. The stock has a market cap of $29.78 billion, a P/E ratio of 76.95, a PEG ratio of 3.11 and a beta of 1.29.
Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.
Trade Desk announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Institutional Trading of Trade Desk
Several institutional investors and hedge funds have recently modified their holdings of TTD. Vanguard Group Inc. raised 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 valued at $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after acquiring an additional 5,387,339 shares in the last quarter. Invesco Ltd. lifted its stake in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares during the period. Norges Bank bought a new position in Trade Desk during the 4th quarter worth about $524,187,000. Finally, FMR LLC increased 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 valued at $445,237,000 after purchasing an additional 1,172,082 shares during the period. Institutional investors own 67.77% of the company's stock.
Trade Desk Company Profile
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Get Free Report)
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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