Truist Financial Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTDGet Free Report) had its target price decreased by equities research analysts at Truist Financial from $60.00 to $50.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective suggests a potential upside of 98.73% from the stock’s current price.

Several other equities analysts also recently issued reports on TTD. Evercore reissued an “outperform” rating on shares of Trade Desk in a research note on Monday. DA Davidson cut their price objective on Trade Desk from $80.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Guggenheim reaffirmed a “buy” rating and set a $50.00 price target (down from $55.00) on shares of Trade Desk in a report on Monday, January 5th. Needham & Company LLC cut their price objective on shares of Trade Desk from $60.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Bank of America lowered their target price on Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Trade Desk currently has an average rating of “Hold” and a consensus price target of $53.48.

Read Our Latest Stock Analysis on Trade Desk

Trade Desk Stock Up 0.9%

NASDAQ TTD opened at $25.16 on Thursday. The stock has a market capitalization of $12.17 billion, a P/E ratio of 28.92, a P/E/G ratio of 0.98 and a beta of 1.10. Trade Desk has a 52-week low of $23.78 and a 52-week high of $91.45. The firm has a 50-day moving average price of $32.81 and a 200 day moving average price of $42.22.

Trade Desk (NASDAQ:TTDGet Free Report) last released its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $846.79 million during the quarter, compared to the consensus estimate of $840.56 million. During the same period last year, the business posted $0.59 EPS. Trade Desk’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of the company. Family Legacy Financial Solutions LLC lifted its holdings in Trade Desk by 163.2% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after acquiring an additional 310 shares during the last quarter. Versant Capital Management Inc boosted its position in Trade Desk by 175.8% during the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after acquiring an additional 334 shares during the period. Root Financial Partners LLC bought a new position in Trade Desk during the third quarter valued at approximately $26,000. Elevation Wealth Partners LLC grew its holdings in Trade Desk by 2,382.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock valued at $27,000 after purchasing an additional 691 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Trade Desk in the second quarter valued at approximately $28,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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Trade Desk Company Profile

(Get Free Report)

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.

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