Evercore ISI Cuts Trade Desk (NASDAQ:TTD) Price Target to $70.00

Trade Desk (NASDAQ:TTD) had its target price decreased by Evercore ISI from $80.00 to $70.00 in a research note issued to investors on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the technology company’s stock.

Several other research analysts also recently commented on TTD. Wells Fargo & Company set a $53.00 price target on shares of Trade Desk and gave the stock an “equal weight” rating in a research note on Monday, October 6th. JMP Securities set a $60.00 price target on shares of Trade Desk and gave the company a “market outperform” rating in a research note on Tuesday, September 30th. Citigroup reissued an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trade Desk in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group cut Trade Desk from a “buy” rating to a “hold” rating and lowered their target price for the stock from $100.00 to $50.00 in a report on Monday, August 11th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.48.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $43.00 on Friday. Trade Desk has a 1 year low of $41.77 and a 1 year high of $141.53. The firm has a 50-day simple moving average of $49.80 and a two-hundred day simple moving average of $62.81. The company has a market cap of $21.02 billion, a P/E ratio of 49.43, a PEG ratio of 2.34 and a beta of 1.43.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.Trade Desk’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Trade Desk has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,403 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $48.20, for a total transaction of $67,624.60. Following the completion of the sale, the director owned 5,035 shares in the company, valued at approximately $242,687. This represents a 21.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC grew 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 purchasing an additional 270 shares during the period. Transce3nd LLC acquired a new stake in shares of Trade Desk in the second quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Trade Desk during the second quarter worth about $28,000. West Oak Capital LLC lifted its stake in Trade Desk by 466.7% in the 2nd quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock valued at $31,000 after buying an additional 350 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Trade Desk in the 1st quarter worth about $26,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.