Trade Desk (NASDAQ:TTD) Rating Increased to Hold at BNP Paribas

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at BNP Paribas to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on TTD. Evercore ISI lowered their price target on Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Citigroup restated an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Wall Street Zen raised Trade Desk from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Truist Financial cut their price target on shares of Trade Desk from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Moffett Nathanson raised shares of Trade Desk from a “sell” rating to a “neutral” rating and set a $39.00 price target for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.62.

Trade Desk Stock Down 2.4%

TTD stock opened at $36.23 on Wednesday. Trade Desk has a 52 week low of $35.65 and a 52 week high of $126.20. The stock has a market capitalization of $17.52 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm has a 50 day moving average of $38.95 and a 200 day moving average of $52.72.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has initiated a stock buyback program on Thursday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 0.7% during the second quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock worth $3,207,504,000 after purchasing an additional 317,107 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Trade Desk by 327.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company’s stock valued at $80,732,000 after buying an additional 858,978 shares during the period. LaFleur & Godfrey LLC acquired a new position in Trade Desk during the 2nd quarter worth approximately $5,029,000. Schroder Investment Management Group boosted its holdings in Trade Desk by 56.8% in the 2nd quarter. Schroder Investment Management Group now owns 895,150 shares of the technology company’s stock worth $64,442,000 after acquiring an additional 324,173 shares during the period. Finally, Congress Park Capital LLC boosted its holdings in Trade Desk by 13.2% in the 2nd quarter. Congress Park Capital LLC now owns 53,781 shares of the technology company’s stock worth $3,872,000 after acquiring an additional 6,257 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.