Guggenheim Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price objective increased by stock analysts at Guggenheim from $13.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Guggenheim‘s price target would indicate a potential upside of 7.17% from the company’s previous close.

TTD has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Trade Desk in a report on Friday, September 11th. Susquehanna reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of Trade Desk in a report on Tuesday. Rosenblatt Securities boosted their price objective on Trade Desk from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective (down from $30.00) on shares of Trade Desk in a research note on Monday, August 3rd. Finally, Truist Financial set a $17.00 target price on Trade Desk in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $18.55.

Trade Desk Price Performance

TTD opened at $14.93 on Tuesday. The company has a 50 day simple moving average of $13.09 and a two-hundred day simple moving average of $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 has a 1-year low of $11.62 and a 1-year high of $45.50.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Monday, November 9th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.04 by $0.29. The firm had revenue of $735.97 million for the quarter, compared to the consensus estimate of $650.93 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. Equities analysts anticipate that Trade Desk will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Deane Retirement Strategies Inc. bought a new position in shares of Trade Desk in the 2nd quarter worth $2,101,000. First Trust Advisors LP boosted its position in Trade Desk by 32.1% during the first quarter. First Trust Advisors LP now owns 1,448,758 shares of the technology company’s stock valued at $32,872,000 after purchasing an additional 351,771 shares in the last quarter. SEB Asset Management AB bought a new stake in Trade Desk during the first quarter valued at about $2,007,000. Tidal Investments LLC boosted its position in Trade Desk by 148.0% during the second quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock valued at $2,208,000 after purchasing an additional 72,888 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Trade Desk by 6.1% in the first quarter. Hsbc Holdings PLC now owns 1,083,635 shares of the technology company’s stock valued at $24,737,000 after purchasing an additional 62,672 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trending Headlines about 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.