Trade Desk’s (TTD) Buy Rating Reiterated at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $19.00 price target on the technology company’s stock. Needham & Company LLC‘s target price suggests a potential upside of 27.26% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Trade Desk from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group set a $15.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research report on Wednesday, October 14th. Cannonball Research cut shares of Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, August 7th. Wolfe Research reissued an “outperform” rating and issued a $16.00 target price on shares of Trade Desk in a research report on Friday, August 7th. Finally, Morgan Stanley set a $13.00 price target on shares of Trade Desk in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $18.37.

Trade Desk Price Performance

Shares of TTD stock opened at $14.93 on Tuesday. Trade Desk has a fifty-two week low of $11.62 and a fifty-two week high of $45.50. The stock’s 50-day moving average is $13.09 and its two-hundred day moving average is $19.52. The firm has a market cap of $7.02 billion, a P/E ratio of 17.77, a PEG ratio of 1.43 and a beta of 0.98.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results 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. The company had revenue of $735.97 million during the quarter, compared to the consensus estimate of $650.93 million. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. As a group, research analysts expect that Trade Desk will post 0.52 EPS for the current year.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Edgestream Partners L.P. bought a new stake in shares of Trade Desk during the 3rd quarter worth about $7,433,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Trade Desk by 110.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 63,000 shares of the technology company’s stock valued at $767,000 after acquiring an additional 33,000 shares during the last quarter. GatePass Capital LLC bought a new position in shares of Trade Desk in the 3rd quarter valued at approximately $231,000. Bessemer Group Inc. raised its stake in shares of Trade Desk by 342.9% in the 3rd quarter. Bessemer Group Inc. now owns 7,781 shares of the technology company’s stock valued at $94,000 after acquiring an additional 6,024 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Trade Desk by 189.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 29,421 shares of the technology company’s stock valued at $358,000 after acquiring an additional 19,249 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Key Stories Impacting Trade Desk

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: Q3 results topped expectations: The Trade Desk reported revenue of about $736 million and adjusted earnings of $0.33 per share, beating analyst estimates. Benzinga article
• Positive Sentiment: Strong Q4 guidance: The company forecast revenue of $755 million, well above the roughly $692 million consensus, signaling a stronger near-term outlook. Benzinga article
• Positive Sentiment: Larger buyback: The Trade Desk added $731 million to its repurchase authorization, bringing the program to $1 billion. Buybacks can support per-share results and signal management’s confidence. Seeking Alpha article
• Positive Sentiment: AI and connected-TV opportunity: CEO Jeff Green highlighted AI tools and the potential for AI to increase demand for advertising data and decision-making, alongside growth opportunities in connected TV. Stocktwits article
• Negative Sentiment: Growth remains a concern: Q3 revenue declined 0.5% year over year, and Green said results remain below the growth level the company expects of itself. That may temper enthusiasm about the beat and outlook. Stocktwits article

Trade Desk Company Profile

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.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.