Truist Financial Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price boosted by Truist Financial from $95.00 to $100.00 in a research report released on Friday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company dropped their price objective on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Wedbush reissued an “outperform” rating and set a $86.00 price target (up from $80.00) on shares of Trade Desk in a research note on Friday. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird cut their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Trading Up 18.6 %

Shares of TTD stock opened at $71.04 on Friday. The firm has a market capitalization of $35.24 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. The firm’s 50 day moving average is $54.62 and its 200-day moving average is $95.31. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53.

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

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the 4th quarter worth about $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. 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.