Wells Fargo & Company Cuts Trade Desk (NASDAQ:TTD) Price Target to $24.00

Trade Desk (NASDAQ:TTDFree Report) had its target price cut by Wells Fargo & Company from $25.00 to $24.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities research analysts have also commented on the stock. Cfra reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Trade Desk in a research note on Tuesday, January 27th. UBS Group reduced their price objective on shares of Trade Desk from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings lowered shares of Trade Desk from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. BMO Capital Markets reduced their price objective on shares of Trade Desk from $98.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Truist Financial reduced their price objective on shares of Trade Desk from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Trade Desk presently has an average rating of “Hold” and an average target price of $41.91.

Get Our Latest Stock Report on TTD

Trade Desk Price Performance

TTD opened at $20.25 on Monday. Trade Desk has a fifty-two week low of $20.11 and a fifty-two week high of $91.45. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.87 and a beta of 1.18. The company’s 50 day moving average price is $25.24 and its two-hundred day moving average price is $36.62.

Trade Desk (NASDAQ:TTDGet Free Report) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The firm had revenue of $846.79 million for the quarter, compared to analyst estimates of $840.56 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 25th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Kathryn E. Falberg sold 102,828 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $30.45, for a total transaction of $3,131,112.60. Following the transaction, the director owned 1,946 shares in the company, valued at $59,255.70. The trade was a 98.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in shares of Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after buying an additional 169 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Trade Desk by 49.2% in the third quarter. HighMark Wealth Management LLC now owns 713 shares of the technology company’s stock valued at $35,000 after buying an additional 235 shares in the last quarter. Tidemark LLC lifted its stake in shares of Trade Desk by 35.1% in the third quarter. Tidemark LLC now owns 943 shares of the technology company’s stock valued at $46,000 after buying an additional 245 shares in the last quarter. Hollencrest Capital Management lifted its stake in shares of Trade Desk by 16.3% in the second quarter. Hollencrest Capital Management now owns 1,783 shares of the technology company’s stock valued at $128,000 after buying an additional 250 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Trade Desk by 5.8% in the third quarter. Cornerstone Wealth Group LLC now owns 4,714 shares of the technology company’s stock valued at $231,000 after buying an additional 257 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

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Trade Desk Company Profile

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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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