The Trade Desk (NASDAQ:TTD) Receives $19.33 Consensus Target Price from Analysts

The Trade Desk (NASDAQ:TTD) has received an average recommendation of “Reduce” from the thirty-nine analysts that are currently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.36.

Several research analysts have issued reports on TTD shares. Arete Research set a $11.60 price objective on Trade Desk and gave the stock a “sell” rating in a research note on Tuesday, June 30th. DA Davidson reaffirmed a “neutral” rating and issued a $16.00 target price (down from $29.00) on shares of Trade Desk in a report on Monday, August 10th. BNP Paribas Exane cut shares of Trade Desk from a “neutral” rating to an “underperform” rating and set a $10.00 target price for the company. in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Trade Desk in a report on Friday. Finally, Wolfe Research reissued an “outperform” rating and set a $16.00 price target on shares of Trade Desk in a report on Friday, August 7th.

Trade Desk Trading Up 4.4%

TTD stock opened at $14.97 on Tuesday. Trade Desk has a 1-year low of $12.83 and a 1-year high of $56.39. The business’s 50 day moving average is $16.04 and its 200-day moving average is $19.95. The firm has a market cap of $7.03 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.66 and a beta of 1.01.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $715.06 million for the quarter, compared to the consensus estimate of $752.41 million. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%.Trade Desk’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. Sell-side analysts forecast that Trade Desk will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Trade Desk by 1,202.9% in the 2nd quarter. California State Teachers Retirement System now owns 8,704,453 shares of the technology company’s stock valued at $157,377,000 after acquiring an additional 8,036,388 shares during the period. Renaissance Technologies LLC grew its holdings in Trade Desk by 59.0% during the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock valued at $123,446,000 after purchasing an additional 2,018,525 shares during the period. Norges Bank acquired a new position in Trade Desk during the fourth quarter valued at approximately $197,550,000. Bank of America Corp DE increased its stake in Trade Desk by 33.5% in the first quarter. Bank of America Corp DE now owns 4,548,894 shares of the technology company’s stock valued at $103,214,000 after purchasing an additional 1,141,704 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Trade Desk by 941.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,219,046 shares of the technology company’s stock valued at $73,040,000 after purchasing an additional 2,910,064 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc is a technology company that provides a self-service, cloud-based platform for digital advertising. Its platform enables advertising agencies and brands to plan, purchase, optimize and measure data-driven advertising campaigns across multiple channels and devices.

The company’s platform supports programmatic buying for display, video, connected television, audio, native and other forms of digital media. Its services are designed to help advertisers use audience data, automation and analytics to reach targeted consumers while managing campaigns across a range of publishers and media environments.

The Trade Desk was founded in 2009 by Jeff Green and Dave Pickles.