Trade Desk (NASDAQ:TTD) Coverage Initiated at Rosenblatt Securities

Equities researchers at Rosenblatt Securities began coverage on shares of Trade Desk (NASDAQ:TTD) in a research report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $77.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 41.54% from the company’s previous close.

Several other brokerages also recently issued reports on TTD. Morgan Stanley lowered their price objective on shares of Trade Desk from $132.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Truist Financial dropped their price target on Trade Desk from $130.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Loop Capital lowered their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada lowered their target price on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Finally, Oppenheimer lowered their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.71.

Trade Desk Stock Up 0.8 %

Shares of NASDAQ TTD opened at $54.40 on Tuesday. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of 69.74, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The firm has a 50-day moving average price of $57.26 and a 200 day moving average price of $98.83.

Trade Desk (NASDAQ:TTD) 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%. Equities research analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Trade Desk during the 4th quarter valued at approximately $524,187,000. Brown Advisory Inc. lifted its position in shares of Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after buying an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Trade Desk during the 4th quarter worth $231,570,000. Franklin Resources Inc. increased its stake in Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after purchasing an additional 1,354,891 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. 67.77% of the stock is currently owned by 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.