Trade Desk (NASDAQ:TTD) Raised to Strong-Buy at Cannonball Research

Trade Desk (NASDAQ:TTD) was upgraded by investment analysts at Cannonball Research to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. DA Davidson decreased their price objective on shares of Trade Desk from $80.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 10th. JMP Securities set a $60.00 price target on shares of Trade Desk and gave the company a “market outperform” rating in a research note on Tuesday, September 30th. Morgan Stanley lowered their price objective on shares of Trade Desk from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group set a $40.00 price objective on shares of Trade Desk and gave the company a “hold” rating in a report on Thursday, December 11th. Finally, Wedbush reduced their target price on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.34.

Trade Desk Trading Up 0.7%

Shares of TTD opened at $37.14 on Monday. The firm has a market cap of $17.96 billion, a PE ratio of 42.69, a P/E/G ratio of 1.45 and a beta of 1.11. Trade Desk has a 12 month low of $35.65 and a 12 month high of $126.20. The stock has a fifty day moving average price of $39.35 and a 200-day moving average price of $52.95.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $739.43 million for the quarter, compared to analyst estimates of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. As a group, research analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a share buyback program on Thursday, November 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Trade Desk by 27.7% during the third quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after acquiring an additional 12,321,000 shares during the period. State Street Corp boosted its position in Trade Desk by 271.1% in the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after purchasing an additional 26,559,005 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Trade Desk by 17.9% during the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after purchasing an additional 2,169,252 shares during the period. Geode Capital Management LLC lifted its stake in shares of Trade Desk by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after purchasing an additional 4,218,975 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Trade Desk by 2.7% during the second quarter. Brown Advisory Inc. now owns 8,323,522 shares of the technology company’s stock worth $599,212,000 after buying an additional 221,228 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.