JMP Securities Cuts Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its target price reduced by equities researchers at JMP Securities from $150.00 to $115.00 in a report released on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price target would suggest a potential upside of 37.21% from the company’s current price.

Several other equities analysts also recently issued reports on TTD. Macquarie boosted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Wells Fargo & Company boosted their target price on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a research note on Thursday. Oppenheimer lifted their price target on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Morgan Stanley decreased their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $127.77.

Trade Desk Stock Performance

Shares of Trade Desk stock traded down $38.42 during trading hours on Thursday, reaching $83.82. The company’s stock had a trading volume of 20,315,429 shares, compared to its average volume of 4,484,090. Trade Desk has a one year low of $72.21 and a one year high of $141.53. The company’s 50 day simple moving average is $123.20 and its 200 day simple moving average is $115.54. The stock has a market cap of $41.37 billion, a P/E ratio of 137.58, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. On average, sell-side analysts predict that Trade Desk will post 0.87 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

Hedge funds have recently modified their holdings of the business. Creative Planning raised its position in Trade Desk by 10.6% during the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after buying an additional 12,384 shares during the period. Swedbank AB grew its stake in Trade Desk by 22.6% during the 3rd quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after acquiring an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Trade Desk by 12.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Trade Desk in the 3rd quarter valued at about $263,000. Finally, Paragon Capital Management Inc. purchased a new stake in shares of Trade Desk in the third quarter worth approximately $811,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.