UBS Group Cuts Trade Desk (NASDAQ:TTD) Price Target to $80.00

Key Points

• UBS Group has cut its price target for Trade Desk from $105.00 to $80.00 while maintaining a "buy" rating, indicating a potential upside of 51.64% from the stock's previous close.
• Trade Desk's stock rose by 3.9% on the trading day to reach $52.76, despite missing EPS estimates of $0.42 with a reported $0.18.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a target price averaging $88.58.

Trade Desk (NASDAQ:TTD - Get Free Report) had its price target cut by research analysts at UBS Group from $105.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. UBS Group's price objective suggests a potential upside of 51.64% from the stock's previous close.

Other analysts also recently issued research reports about the stock. HSBC restated a "hold" rating and set a $56.00 price target on shares of Trade Desk in a report on Monday. Evercore ISI upgraded shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target for the company in a report on Friday, June 27th. Guggenheim cut their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Macquarie raised their price target on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Rosenblatt Securities restated a "buy" rating on shares of Trade Desk in a report on Friday, August 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.58.

Trade Desk Stock Up 3.9%

TTD traded up $2.00 during trading on Friday, reaching $52.76. The company's stock had a trading volume of 6,514,601 shares, compared to its average volume of 11,231,672. The firm has a fifty day simple moving average of $74.61 and a two-hundred day simple moving average of $71.51. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 2.78 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. As a group, equities analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Activity

In other news, insider Jay R. Grant sold 51,290 shares of Trade Desk stock in a transaction 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 completion of the sale, the insider directly owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. The trade was a 19.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in Trade Desk in the fourth quarter valued at $25,000. Banque Cantonale Vaudoise purchased a new stake in Trade Desk in the first quarter valued at $26,000. Sound Income Strategies LLC lifted its position in Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock valued at $26,000 after acquiring an additional 270 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in Trade Desk in the first quarter valued at $27,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Trade Desk in the second quarter valued at $28,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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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