Trade Desk (NASDAQ:TTD) Price Target Cut to $145.00 by Analysts at Robert W. Baird

Trade Desk (NASDAQ:TTD) had its price objective reduced by stock analysts at Robert W. Baird from $160.00 to $145.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 18.63% from the stock’s previous close.

A number of other equities research analysts also recently commented on TTD. Truist Financial boosted their target price on Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the company from $135.00 to $90.00 in a research note on Thursday. DA Davidson lifted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, UBS Group upped their target price on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.10.

Trade Desk Price Performance

TTD stock opened at $122.23 on Thursday. The company has a market capitalization of $60.33 billion, a price-to-earnings ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $71.11 and a 1-year high of $141.53. The business has a 50 day simple moving average of $123.20 and a two-hundred day simple moving average of $115.54.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Sell-side analysts anticipate that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter worth $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk during the fourth quarter valued at about $34,000. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk during the fourth quarter valued at about $34,000. Finally, Zions Bancorporation N.A. raised its position in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.