Trade Desk (NASDAQ:TTD) Price Target Raised to $18.00

Trade Desk (NASDAQ:TTD) had its target price raised by Royal Bank Of Canada from $15.00 to $18.00 in a report published on Tuesday, Marketbeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.

Several other brokerages have also issued reports on TTD. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Trade Desk in a research report on Tuesday. Citigroup lowered Trade Desk from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $21.00 to $11.00 in a research note on Friday, August 7th. Truist Financial set a $17.00 target price on Trade Desk and gave the stock a “hold” rating in a research note on Tuesday. HSBC downgraded shares of Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price target on the stock. in a research note on Monday, August 10th. Finally, UBS Group set a $15.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a report on Wednesday, October 14th. Four research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $18.52.

Trade Desk Trading Down 3.2%

TTD opened at $15.47 on Tuesday. The firm has a market cap of $7.27 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.74 and a beta of 0.98. Trade Desk has a 12 month low of $11.62 and a 12 month high of $43.86. The stock has a 50-day moving average of $13.19 and a 200 day moving average of $19.21.

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 the consensus estimate of $0.04 by $0.29. The company had revenue of $735.97 million for the quarter, compared to analysts’ expectations of $650.93 million. Trade Desk had a return on equity of 14.36% and a net margin of 11.03%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, research analysts forecast that Trade Desk will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of TTD. Bank of New York Mellon Corp bought a new position in shares of Trade Desk during the second quarter valued at approximately $39,750,000. Renaissance Technologies LLC raised its stake in 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 buying an additional 2,018,525 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Trade Desk by 1,090.7% in the third quarter. Public Sector Pension Investment Board now owns 1,451,653 shares of the technology company’s stock worth $17,785,000 after buying an additional 1,329,736 shares in the last quarter. Bank of Nova Scotia raised its stake in Trade Desk by 1,913.4% in the first quarter. Bank of Nova Scotia now owns 1,394,787 shares of the technology company’s stock worth $31,648,000 after buying an additional 1,325,513 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Trade Desk by 330.0% during the first quarter. Quantinno Capital Management LP now owns 1,496,748 shares of the technology company’s stock worth $33,961,000 after buying an additional 1,148,680 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk News Summary

Here’s some of the latest news about TTD:

• Positive Sentiment: Q3 revenue of about $736 million exceeded expectations, as did earnings per share. Management also forecast Q4 revenue of about $755 million, offering a potential improvement in growth momentum. Trade Desk’s $736M Q3 Revenues: Is a Growth Recovery Taking Shape?
• Positive Sentiment: TTD generated $153 million in Q3 free cash flow, supported by strong liquidity and cost-cutting efforts—evidence of cash generation even as sales growth slows. Trade Desk’s $153M Q3 Free Cash Flow: Can the Momentum Continue?
• Positive Sentiment: Analyst sentiment has included multiple price-target increases after the earnings report; at least 14 analysts reportedly raised targets, adding a source of support for the stock. Trade Desk Stock Boosted by Wall Street Optimism Following Earnings Beat

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.