Trade Desk (NASDAQ:TTD) Price Target Raised to $15.00

Trade Desk (NASDAQ:TTD) had its target price upped by Rosenblatt Securities from $12.00 to $15.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a neutral rating on the technology company’s stock.

TTD has been the subject of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Trade Desk in a research note on Friday, September 11th. Morgan Stanley set a $13.00 price objective on Trade Desk in a report on Monday, August 10th. Guggenheim restated a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Trade Desk in a research report on Friday, September 18th. Truist Financial set a $17.00 target price on Trade Desk and gave the stock a “hold” rating in a research note on Tuesday. Finally, Raymond James Financial lowered Trade Desk from a “market perform” rating to an “underperform” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Reduce” and an average price target of $18.52.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $15.47 on Tuesday. Trade Desk has a 1 year low of $11.62 and a 1 year high of $43.86. The company’s fifty day moving average price is $13.19 and its 200 day moving average price is $19.21. The company has a market capitalization of $7.27 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.29. Trade Desk had a net margin of 11.03% and a return on equity of 14.36%. The business had revenue of $735.97 million during the quarter, compared to the consensus estimate of $650.93 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Trade Desk will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Trade Desk by 59.0% in the first quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock worth $123,446,000 after acquiring an additional 2,018,525 shares during the last quarter. Bank of America Corp DE lifted its holdings in Trade Desk by 33.5% in the 1st 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 in the last quarter. Amundi boosted its stake in Trade Desk by 0.6% during the 1st quarter. Amundi now owns 3,056,305 shares of the technology company’s stock worth $69,348,000 after purchasing an additional 17,097 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Trade Desk during the 2nd quarter worth $39,750,000. Finally, Quantinno Capital Management LP boosted its stake in Trade Desk by 330.0% during the 1st quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock worth $33,961,000 after purchasing an additional 1,148,680 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trending Headlines about Trade Desk

Here are a few of the latest headlines about TTD:

• Neutral Sentiment: Ratings remain mixed: Piper Sandler maintained a Hold/neutral stance, while other firms reiterated positive ratings or raised targets. This suggests optimism about potential recovery but not broad agreement on near-term upside. Piper Sandler Keeps Their Hold Rating on Trade Desk
• Negative Sentiment: Revenue fell 0.5% year over year, a sharp slowdown from the prior-year growth rate. Reports also flagged profit and margin compression, a restructuring charge and questions about revenue composition. The Trade Desk Beats on Revenue, But the Fine Print Matters
• Negative Sentiment: Competition and advertising-market headwinds remain risks, tempering confidence that stronger Q4 guidance will translate into a sustained growth recovery. Competitive Headwinds Keep Coming For The Trade Desk

About Trade Desk

The Trade Desk, Inc. provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display. The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.