Trade Desk (NASDAQ:TTD) Raised to “Hold” at DA Davidson

Trade Desk (NASDAQ:TTD) was upgraded by investment analysts at DA Davidson to a “hold” rating in a report issued on Monday, Zacks reports.

Several other research firms also recently commented on TTD. Evercore set a $14.00 price objective on Trade Desk in a report on Tuesday, September 8th. Scotiabank set a $12.00 target price on shares of Trade Desk and gave the stock a “sector perform” rating in a report on Friday, August 7th. Wolfe Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Trade Desk in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Trade Desk in a research note on Friday, September 11th. Finally, UBS Group set a $16.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $18.19.

Trade Desk Stock Performance

TTD opened at $11.92 on Monday. The business’s 50-day simple moving average is $14.21 and its 200 day simple moving average is $18.45. Trade Desk has a 52-week low of $11.74 and a 52-week high of $56.39. The firm has a market capitalization of $5.60 billion, a PE ratio of 14.19, a PEG ratio of 1.39 and a beta of 1.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TTD. Renaissance Technologies LLC lifted its holdings in Trade Desk by 59.0% during the 1st 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 last quarter. Bank of America Corp DE increased its holdings in shares of 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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 during the last quarter. Barclays PLC raised its position in shares of Trade Desk by 2.6% in the fourth quarter. Barclays PLC now owns 3,128,361 shares of the technology company’s stock valued at $118,753,000 after purchasing an additional 79,923 shares during the period. Finally, Amundi raised its position in shares of Trade Desk by 0.6% in the first 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. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.