Trade Desk (NASDAQ:TTD) Trading Up 4.4% - Should You Buy?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s stock price traded up 4.4% on Monday . The company traded as high as $56.84 and last traded at $56.47. 3,952,300 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 5,448,944 shares. The stock had previously closed at $54.09.

Analyst Upgrades and Downgrades

Several research firms recently commented on TTD. Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 11th. Cantor Fitzgerald decreased their target price 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. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Cfra Research upgraded shares of Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.84.

Trade Desk Trading Up 3.8 %

The company has a market cap of $27.85 billion, a PE ratio of 72.01, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The business has a 50 day simple moving average of $55.63 and a two-hundred day simple moving average of $97.04.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, equities 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 program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Trade Desk

Institutional investors have recently added to or reduced their stakes in the business. Diversify Advisory Services LLC lifted its stake in shares of Trade Desk by 272.6% during the first quarter. Diversify Advisory Services LLC now owns 15,462 shares of the technology company's stock worth $845,000 after purchasing an additional 11,312 shares in the last quarter. Evergreen Wealth Management LLC boosted its holdings in Trade Desk by 112.5% in the 1st quarter. Evergreen Wealth Management LLC now owns 17,248 shares of the technology company's stock worth $944,000 after acquiring an additional 9,133 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Trade Desk by 3,888,788.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350,000 shares of the technology company's stock valued at $19,152,000 after acquiring an additional 349,991 shares in the last quarter. Hollencrest Capital Management raised its stake in shares of Trade Desk by 61.4% during the first quarter. Hollencrest Capital Management now owns 1,533 shares of the technology company's stock valued at $84,000 after purchasing an additional 583 shares during the period. Finally, Forte Capital LLC ADV lifted its position in shares of Trade Desk by 1.7% during the first quarter. Forte Capital LLC ADV now owns 208,885 shares of the technology company's stock worth $11,430,000 after purchasing an additional 3,530 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.

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