Trade Desk (NASDAQ:TTD) Shares Up 1.2% – Time to Buy?

The Trade Desk (NASDAQ:TTD) shot up 1.2% during mid-day trading on Tuesday . The company traded as high as $36.77 and last traded at $36.64. 12,250,942 shares changed hands during trading, an increase of 0% from the average session volume of 12,197,648 shares. The stock had previously closed at $36.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TTD shares. Susquehanna dropped their price target on Trade Desk from $135.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Morgan Stanley downgraded Trade Desk from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $80.00 to $50.00 in a research note on Wednesday, September 10th. Needham & Company LLC dropped their target price on Trade Desk from $84.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 7th. DA Davidson cut their price target on Trade Desk from $80.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, Royal Bank Of Canada set a $80.00 price target on Trade Desk and gave the stock an “outperform” rating in a report on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.56.

Trade Desk Stock Performance

The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 1.82 and a beta of 1.07. The firm has a fifty day moving average price of $45.14 and a 200 day moving average price of $57.83.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm 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%.Trade Desk’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Research analysts predict that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback program on Thursday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Cornerstone Wealth Group LLC lifted its position in shares of Trade Desk by 2.8% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company’s stock valued at $321,000 after acquiring an additional 122 shares during the period. STF Management LP increased its stake in Trade Desk by 2.1% in the 2nd quarter. STF Management LP now owns 6,627 shares of the technology company’s stock valued at $477,000 after purchasing an additional 136 shares in the last quarter. Mutual Advisors LLC raised its holdings in Trade Desk by 3.5% during the second quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company’s stock worth $305,000 after purchasing an additional 142 shares during the last quarter. Ashton Thomas Securities LLC raised its holdings in Trade Desk by 2.6% during the first quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company’s stock worth $315,000 after purchasing an additional 144 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its position in Trade Desk by 2.4% during the first quarter. Tradition Wealth Management LLC now owns 6,349 shares of the technology company’s stock worth $347,000 after purchasing an additional 150 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 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.