Trade Desk (NASDAQ:TTD) Upgraded at Benchmark

Benchmark upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat.com reports. Benchmark currently has $65.00 target price on the technology company’s stock.

Several other research analysts also recently commented on TTD. KeyCorp raised their target price on Trade Desk from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Stifel Nicolaus cut their price objective on shares of Trade Desk from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Scotiabank reduced their price objective on shares of Trade Desk from $83.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, August 8th. Citigroup reiterated an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Finally, Morgan Stanley downgraded shares of Trade Desk from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $80.00 to $50.00 in a report on Wednesday, September 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Trade Desk currently has an average rating of “Hold” and a consensus price target of $79.48.

Trade Desk Trading Down 6.3%

Shares of TTD stock opened at $43.00 on Friday. The firm’s 50 day moving average is $49.80 and its 200 day moving average is $62.81. The stock has a market capitalization of $21.02 billion, a P/E ratio of 49.43, a PEG ratio of 2.34 and a beta of 1.43. Trade Desk has a 12 month low of $41.77 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The business had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Trade Desk has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Andrea Lee Cunningham sold 1,403 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $48.20, for a total value of $67,624.60. Following the completion of the transaction, the director directly owned 5,035 shares in the company, valued at approximately $242,687. The trade was a 21.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Trade Desk by 15.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,765 shares of the technology company’s stock valued at $577,000 after purchasing an additional 1,590 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Trade Desk by 92.3% in the third quarter. Y.D. More Investments Ltd now owns 769 shares of the technology company’s stock worth $38,000 after buying an additional 369 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Trade Desk by 21.9% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 6,844 shares of the technology company’s stock worth $335,000 after acquiring an additional 1,228 shares in the last quarter. Avestar Capital LLC raised its stake in shares of Trade Desk by 22.3% during the third quarter. Avestar Capital LLC now owns 6,798 shares of the technology company’s stock worth $333,000 after acquiring an additional 1,241 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its holdings in shares of Trade Desk by 133.5% in the 3rd quarter. NEOS Investment Management LLC now owns 189,786 shares of the technology company’s stock worth $9,301,000 after acquiring an additional 108,520 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.