Wells Fargo & Company Cuts Trade Desk (NASDAQ:TTD) Price Target to $47.00

Trade Desk (NASDAQ:TTD) had its target price decreased by Wells Fargo & Company from $53.00 to $47.00 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

TTD has been the topic of a number of other research reports. HSBC reaffirmed a “hold” rating and set a $56.00 price objective on shares of Trade Desk in a report on Monday, August 11th. Needham & Company LLC cut their price target on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Benchmark upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday. Guggenheim set a $55.00 target price on shares of Trade Desk and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Susquehanna dropped their target price on shares of Trade Desk from $135.00 to $85.00 and set a “positive” rating for the company in a report on Friday. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.48.

Trade Desk Price Performance

Trade Desk stock opened at $43.00 on Friday. The business has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $62.81. Trade Desk has a 12 month low of $41.77 and a 12 month high of $141.53. The stock has a market capitalization of $21.02 billion, a PE ratio of 49.43, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $739.43 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Trade Desk has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,403 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $48.20, for a total value of $67,624.60. Following the sale, the director directly owned 5,035 shares of the company’s stock, valued at approximately $242,687. This trade represents a 21.79% decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Trade Desk by 27.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock valued at $2,787,486,000 after purchasing an additional 12,321,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Trade Desk by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after acquiring an additional 4,218,975 shares during the last quarter. Nuveen LLC acquired a new position in Trade Desk in the first quarter worth about $191,935,000. Norges Bank acquired a new stake in Trade Desk during the second quarter worth about $197,362,000. Finally, Viking Global Investors LP bought a new position in Trade Desk in the second quarter worth about $192,524,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.