Susquehanna Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective decreased by stock analysts at Susquehanna from $150.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the technology company’s stock. Susquehanna’s price target would indicate a potential upside of 10.45% from the company’s previous close.

Several other research firms have also recently issued reports on TTD. Morgan Stanley decreased their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Benchmark reissued a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a research note on Friday, November 8th. Robert W. Baird cut their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Loop Capital boosted their price target on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $131.60.

Trade Desk Stock Up 1.7 %

Shares of Trade Desk stock opened at $122.23 on Thursday. Trade Desk has a fifty-two week low of $71.11 and a fifty-two week high of $141.53. The business’s fifty day moving average is $123.20 and its two-hundred day moving average is $115.54. The firm has a market cap of $60.33 billion, a PE ratio of 200.38, a P/E/G ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. Equities research analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently added to or reduced their stakes in the stock. Edgewood Management LLC grew its position in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. Norges Bank acquired a new position in Trade Desk during the 4th quarter valued at about $524,187,000. Jennison Associates LLC grew its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $231,570,000. Finally, Baillie Gifford & Co. raised its holdings in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

About Trade Desk

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.