Trade Desk (NASDAQ:TTD) Price Target Cut to $67.00 by Analysts at KeyCorp

Trade Desk (NASDAQ:TTD) had its price target dropped by equities researchers at KeyCorp from $74.00 to $67.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 44.91% from the stock’s previous close.

TTD has been the topic of a number of other reports. Cantor Fitzgerald dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. JMP Securities dropped their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Susquehanna reduced their price objective on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, Cfra Research raised Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.14.

Trade Desk Stock Performance

NASDAQ:TTD traded up $0.97 on Wednesday, reaching $46.24. The company’s stock had a trading volume of 1,018,960 shares, compared to its average volume of 5,026,969. The firm has a market cap of $22.94 billion, a PE ratio of 59.61, a PEG ratio of 3.11 and a beta of 1.56. The business’s 50-day moving average price is $73.60 and its two-hundred day moving average price is $105.22. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, sell-side analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the period. Invesco Ltd. increased its position in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank acquired a new position in Trade Desk in the fourth quarter valued at about $524,187,000. FMR LLC lifted its position in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the period. Finally, Bank of America Corp DE grew its stake in Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock worth $422,150,000 after buying an additional 418,911 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.