Trade Desk (NASDAQ:TTD) Price Target Cut to $60.00 by Analysts at Needham & Company LLC

Trade Desk (NASDAQ:TTD) had its price target cut by Needham & Company LLC from $84.00 to $60.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on TTD. Bank of America reaffirmed an “underperform” rating and issued a $55.00 price target (down previously from $130.00) on shares of Trade Desk in a report on Friday, August 8th. Scotiabank dropped their target price on shares of Trade Desk from $83.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. Stifel Nicolaus cut their price target on shares of Trade Desk from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. JMP Securities set a $60.00 price objective on shares of Trade Desk and gave the company a “market outperform” rating in a research report on Tuesday, September 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating on shares of Trade Desk in a report on Friday, August 8th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Hold” and a consensus target price of $79.48.

Trade Desk Stock Performance

NASDAQ TTD traded down $2.90 on Friday, hitting $43.00. The stock had a trading volume of 34,219,422 shares, compared to its average volume of 10,097,466. The firm has a 50-day moving average of $49.80 and a 200-day moving average of $62.63. Trade Desk has a 52-week low of $41.77 and a 52-week high of $141.53. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 49.43, a price-to-earnings-growth ratio of 2.49 and a beta of 1.43.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 15.73%. The firm had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Trade Desk has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has authorized a stock repurchase program on Thursday, November 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,403 shares of Trade Desk stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $48.20, for a total value of $67,624.60. Following the transaction, the director owned 5,035 shares in the company, valued at approximately $242,687. The trade was a 21.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Family Legacy Financial Solutions LLC boosted its stake in shares of Trade Desk by 163.2% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Trade Desk in the first quarter worth about $26,000. Sound Income Strategies LLC boosted its position in Trade Desk by 317.6% during the 2nd 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 in the last quarter. Versant Capital Management Inc grew its holdings in shares of Trade Desk by 175.8% during the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after acquiring an additional 334 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of Trade Desk during the 3rd quarter worth approximately $26,000. 67.77% of the stock is currently owned by institutional investors.

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.