Trade Desk’s (TTD) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their sector perform rating on shares of Trade Desk (NASDAQ:TTD) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the technology company’s stock.

TTD has been the topic of a number of other research reports. UBS Group set a $16.00 price target on Trade Desk and gave the stock a “buy” rating in a research report on Friday, August 7th. Arete Research set a $11.60 target price on Trade Desk and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Benchmark reissued a “buy” rating and set a $20.00 target price (down from $30.00) on shares of Trade Desk in a report on Monday, August 3rd. Weiss Ratings cut Trade Desk from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. Finally, Morgan Stanley set a $13.00 price target on Trade Desk in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $19.36.

Trade Desk Trading Up 2.6%

NASDAQ TTD opened at $14.34 on Wednesday. The firm’s fifty day moving average price is $16.12 and its two-hundred day moving average price is $20.05. Trade Desk has a 1 year low of $12.83 and a 1 year high of $56.39. The firm has a market capitalization of $6.74 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $715.06 million during the quarter, compared to the consensus estimate of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, research analysts anticipate that Trade Desk will post 0.51 EPS for the current fiscal year.

Institutional Trading of Trade Desk

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in Trade Desk by 148.0% in the 2nd quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock valued at $2,208,000 after buying an additional 72,888 shares in the last quarter. Archford Capital Strategies LLC bought a new stake in shares of Trade Desk in the second quarter valued at about $326,000. Integrated Wealth Concepts LLC boosted its position in shares of Trade Desk by 84.3% in the second quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company’s stock valued at $296,000 after acquiring an additional 7,480 shares during the period. RFG Advisory LLC grew its stake in shares of Trade Desk by 37.9% in the second quarter. RFG Advisory LLC now owns 115,773 shares of the technology company’s stock valued at $2,093,000 after acquiring an additional 31,821 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Trade Desk by 91.4% in the second quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company’s stock valued at $1,306,000 after acquiring an additional 34,484 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk News Summary

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

• Positive Sentiment: International expansion in EMEA and APAC, growing connected-TV advertising demand and increased activity in China could provide new growth avenues for The Trade Desk and help diversify its revenue base. TTD’s International Expansion: Can EMEA and APAC Drive Growth?
• Positive Sentiment: Royal Bank of Canada reaffirmed its “Sector Perform” rating, suggesting the recent selloff may already reflect many of the company’s challenges and that the risk-reward profile is becoming more balanced. Royal Bank Of Canada Reaffirms Sector Perform Rating for Trade Desk
• Positive Sentiment: The stock’s recent outperformance may reflect bargain hunting after a steep decline, although the broader recovery case still depends on evidence that growth can reaccelerate. The Trade Desk Surpasses Market Returns

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that provides a self-service, cloud-based platform for digital advertising. Its platform enables advertising agencies and brands to plan, purchase, optimize and measure data-driven advertising campaigns across multiple channels and devices.

The company’s platform supports programmatic buying for display, video, connected television, audio, native and other forms of digital media. Its services are designed to help advertisers use audience data, automation and analytics to reach targeted consumers while managing campaigns across a range of publishers and media environments.

The Trade Desk was founded in 2009 by Jeff Green and Dave Pickles.