Trade Desk (NASDAQ:TTD) Board Announces Stock Buyback Program

Trade Desk (NASDAQ:TTDGet Free Report) announced that its Board of Directors has approved a share repurchase program on Wednesday, February 25th, RTT News reports. The company plans to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Trade Desk Stock Performance

Shares of TTD stock traded up $0.22 during mid-day trading on Wednesday, hitting $25.16. The company’s stock had a trading volume of 28,178,538 shares, compared to its average volume of 14,581,010. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 0.98 and a beta of 1.10. Trade Desk has a 52-week low of $23.78 and a 52-week high of $91.45. The business has a 50-day moving average price of $32.81 and a 200 day moving average price of $42.22.

Trade Desk (NASDAQ:TTDGet Free Report) last released its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The company had revenue of $846.79 million for the quarter, compared to analysts’ expectations of $840.56 million. During the same period last year, the firm posted $0.59 earnings per share. Trade Desk’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $50.00 price objective (down from $55.00) on shares of Trade Desk in a research report on Monday, January 5th. Truist Financial set a $60.00 target price on Trade Desk and gave the stock a “buy” rating in a research note on Monday, January 26th. BNP Paribas Exane started coverage on Trade Desk in a report on Wednesday, January 14th. They set a “neutral” rating and a $40.00 price target for the company. Wolfe Research reiterated an “outperform” rating and issued a $45.00 price target (down from $60.00) on shares of Trade Desk in a research note on Monday, January 5th. Finally, Wells Fargo & Company set a $42.00 price objective on shares of Trade Desk and gave the company an “equal weight” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.58.

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About Trade Desk

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The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.

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