HSBC Reaffirms "Hold" Rating for Trade Desk (NASDAQ:TTD)

Key Points

• HSBC has reiterated a "hold" rating for Trade Desk (TTD) in a recent research note, reflecting cautious sentiment among analysts regarding the stock's performance.
• Trade Desk's quarterly earnings report revealed a slight miss on earnings per share, reporting $0.41 compared to the consensus estimate of $0.42, but showed an 18.7% year-over-year revenue growth.
• The company currently has a consensus rating of "Moderate Buy" from analysts, with an average price target set at $89.91.

HSBC reaffirmed their hold rating on shares of Trade Desk (NASDAQ:TTD - Free Report) in a research note released on Monday morning, MarketBeat reports. They currently have a $56.00 target price on the technology company's stock.

Other equities research analysts have also recently issued reports about the company. BTIG Research cut Trade Desk from a "buy" rating to a "neutral" rating in a research note on Friday, August 8th. UBS Group restated a "buy" rating and issued a $105.00 price objective (up from $80.00) on shares of Trade Desk in a report on Wednesday, July 16th. Wedbush reissued an "outperform" rating and issued a $86.00 price objective on shares of Trade Desk in a research report on Tuesday, July 15th. Scotiabank reduced their target price on Trade Desk from $83.00 to $60.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Finally, KeyCorp lifted their price target on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.33.

Trade Desk Price Performance

NASDAQ TTD traded down $0.43 during trading on Monday, reaching $52.84. 3,282,941 shares of the company's stock were exchanged, compared to its average volume of 11,014,125. The business has a 50 day moving average price of $75.45 and a 200-day moving average price of $72.10. The stock has a market capitalization of $25.97 billion, a P/E ratio of 63.79, a PEG ratio of 2.74 and a beta of 1.37. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The firm had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company's revenue was up 18.7% on a year-over-year basis. On average, analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 51,290 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the sale, the insider owned 218,246 shares in the company, valued at $19,899,670.28. This represents a 19.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the 4th quarter worth $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Trade Desk during the 1st quarter worth $26,000. Sound Income Strategies LLC boosted its stake in shares of Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after acquiring an additional 270 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter worth $27,000. Finally, von Borstel & Associates Inc. bought a new stake in shares of Trade Desk during the 1st quarter valued at $31,000. Hedge funds and other 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.