Oppenheimer Lowers Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its target price cut by analysts at Oppenheimer from $135.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 40.41% from the stock’s previous close.

A number of other research firms have also weighed in on TTD. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. KeyCorp upped their price target on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup lifted their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BTIG Research boosted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank started coverage on Trade Desk in a research report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.43.

Trade Desk Stock Down 33.0 %

TTD traded down $40.33 on Thursday, reaching $81.90. 32,899,968 shares of the company traded hands, compared to its average volume of 4,946,304. The company has a market cap of $40.42 billion, a P/E ratio of 134.45, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The firm has a fifty day simple moving average of $123.20 and a two-hundred day simple moving average of $115.54. Trade Desk has a one year low of $72.21 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, equities analysts forecast that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk announced that its board has approved a share 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 buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 over the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the stock. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter worth about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. Finally, Zions Bancorporation N.A. grew its position in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors 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.