Trade Desk (NASDAQ:TTD) Stock Price Target Raised at Wells Fargo & Company

Trade Desk (NASDAQ:TTD) had its target price hoisted by investment analysts at Wells Fargo & Company from $12.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 6.43% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Guggenheim raised their price objective on shares of Trade Desk from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday. HSBC downgraded shares of Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 target price for the company. in a research report on Monday, August 10th. Piper Sandler raised their price target on shares of Trade Desk from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday. Wolfe Research restated an “outperform” rating and set a $16.00 price target on shares of Trade Desk in a report on Friday, August 7th. Finally, Citigroup lifted their price objective on shares of Trade Desk from $11.00 to $12.00 and gave the company a “sell” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $18.52.

Trade Desk Stock Up 4.0%

Shares of TTD traded up $0.61 during midday trading on Wednesday, reaching $16.03. 4,555,345 shares of the stock were exchanged, compared to its average volume of 20,365,221. Trade Desk has a 12-month low of $11.62 and a 12-month high of $45.50. The firm has a 50 day simple moving average of $13.13 and a 200-day simple moving average of $19.41. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.61 and a beta of 0.98.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.04 by $0.29. The business had revenue of $735.97 million during the quarter, compared to analysts’ expectations of $650.93 million. Trade Desk had a return on equity of 14.64% and a net margin of 11.03%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. Research analysts expect that Trade Desk will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trade Desk

Large investors have recently added to or reduced their stakes in the stock. Westpac Banking Corp bought a new position in shares of Trade Desk in the third quarter valued at approximately $65,000. Checchi Capital Advisers LLC boosted its holdings in shares of Trade Desk by 7.6% during the 3rd quarter. Checchi Capital Advisers LLC now owns 21,293 shares of the technology company’s stock worth $259,000 after buying an additional 1,495 shares during the period. Voya Investment Management LLC grew its stake in Trade Desk by 217.8% in the 3rd quarter. Voya Investment Management LLC now owns 273,352 shares of the technology company’s stock valued at $3,327,000 after buying an additional 187,341 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Trade Desk by 1,090.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,451,653 shares of the technology company’s stock valued at $17,785,000 after buying an additional 1,329,736 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Trade Desk by 1,042.5% in the 3rd quarter. Global Retirement Partners LLC now owns 23,981 shares of the technology company’s stock valued at $292,000 after buying an additional 21,882 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk News Roundup

These are some of the TTD news items that stood out recently:

• Positive Sentiment: Q3 revenue was about $736 million, beating analyst estimates and the company’s prior expectations; adjusted earnings also topped forecasts. Management’s Q4 revenue outlook of $755 million exceeded the roughly $692 million consensus, helping bolster confidence in the recovery. Trade Desk Q3 results beat expectations, but analyst flags revenue composition concerns
• Neutral Sentiment: Analyst signals remain mixed: Cantor Fitzgerald raised its price target to $15 but kept a neutral rating, while DA Davidson initiated coverage at neutral. Cantor Fitzgerald stock recommendations
• Negative Sentiment: Q3 revenue was still down 0.5% year over year, and quarterly profit fell sharply, with margin strain and restructuring costs weighing on results. Analysts have also raised concerns about revenue composition, slowing growth, and competitive pressure in digital advertising. The Trade Desk Beats on Revenue, But the Fine Print Matters

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.