Trade Desk (NASDAQ:TTD) Stock Rated “Neutral” in New Coverage at DA Davidson

DA Davidson initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Tuesday,FinViz reports. The firm issued a neutral rating on the technology company’s stock.

A number of other analysts have also weighed in on the company. Zacks Research upgraded Trade Desk from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Morgan Stanley upped their price target on shares of Trade Desk from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Guggenheim increased their price objective on shares of Trade Desk from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $15.00 target price on shares of Trade Desk in a research note on Tuesday. Finally, Wolfe Research reiterated an “outperform” rating and set a $16.00 target price on shares of Trade Desk in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $18.52.

Trade Desk Price Performance

Shares of TTD opened at $15.47 on Tuesday. The company has a market capitalization of $7.27 billion, a P/E ratio of 22.42, a PEG ratio of 1.74 and a beta of 0.98. Trade Desk has a one year low of $11.62 and a one year high of $43.86. The business’s 50 day simple moving average is $13.19 and its 200-day simple moving average is $19.21.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Monday, November 9th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29. Trade Desk had a return on equity of 14.36% and a net margin of 11.03%. The firm had revenue of $735.97 million during the quarter, compared to analysts’ expectations of $650.93 million. During the same period last year, the firm posted $0.45 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Trade Desk will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Trade Desk by 59.0% in the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock worth $123,446,000 after purchasing an additional 2,018,525 shares during the period. Bank of America Corp DE raised its holdings in Trade Desk by 33.5% during the 1st quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock worth $103,214,000 after purchasing an additional 1,141,704 shares during the last quarter. Amundi lifted its position in Trade Desk by 0.6% during the 1st quarter. Amundi now owns 3,056,305 shares of the technology company’s stock valued at $69,348,000 after purchasing an additional 17,097 shares during the period. Bank of New York Mellon Corp acquired a new position in Trade Desk during the 2nd quarter valued at about $39,750,000. Finally, First Trust Advisors LP lifted its position in Trade Desk by 71.6% during the 3rd quarter. First Trust Advisors LP now owns 1,720,036 shares of the technology company’s stock valued at $20,933,000 after purchasing an additional 717,493 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk News Roundup

Investors following TTD have been watching these news items:

• Positive Sentiment: Analyst sentiment has included multiple price-target increases after the earnings report; at least 14 analysts reportedly raised targets, adding a source of support for the stock. Trade Desk Stock Boosted by Wall Street Optimism Following Earnings Beat
• Negative Sentiment: Revenue fell 0.5% year over year, a sharp slowdown from the prior-year growth rate. Reports also flagged profit and margin compression, a restructuring charge and questions about revenue composition. The Trade Desk Beats on Revenue, But the Fine Print Matters
• Negative Sentiment: Competition and advertising-market headwinds remain risks, tempering confidence that stronger Q4 guidance will translate into a sustained growth recovery. Competitive Headwinds Keep Coming For The Trade Desk

Trade Desk Company Profile

The Trade Desk, Inc. provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display. The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.