Citizens Jmp Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective decreased by Citizens Jmp from $115.00 to $100.00 in a research report released on Friday morning, MarketBeat Ratings reports. Citizens Jmp currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup lifted their price objective on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. DA Davidson reduced their price objective on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Friday. UBS Group lowered their target price on shares of Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, HSBC set a $75.00 price target on Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Stock Up 18.6 %

Shares of TTD opened at $71.04 on Friday. The company has a market cap of $35.24 billion, a P/E ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm’s 50 day moving average price is $54.62 and its 200 day moving average price is $95.31.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. Research analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Trade Desk

Several hedge funds have recently made changes to their positions in TTD. Gagnon Securities LLC acquired a new position in shares of Trade Desk during the first quarter worth about $361,000. Deutsche Bank AG boosted its holdings in Trade Desk by 17.7% in the 1st quarter. Deutsche Bank AG now owns 1,343,844 shares of the technology company’s stock valued at $73,535,000 after purchasing an additional 201,717 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Trade Desk by 5.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 6,978 shares of the technology company’s stock worth $394,000 after purchasing an additional 357 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Trade Desk by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,985,284 shares of the technology company’s stock worth $108,635,000 after buying an additional 110,145 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Trade Desk in the 1st quarter valued at approximately $1,719,000. Institutional investors and hedge funds 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.