Trade Desk’s (TTD) Overweight Rating Reaffirmed at Piper Sandler

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They presently have a $110.00 target price on the technology company’s stock, down from their previous target price of $140.00. Piper Sandler’s target price suggests a potential upside of 30.83% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday. BMO Capital Markets lifted their target price on Trade Desk from $125.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. DA Davidson reduced their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Susquehanna reduced their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.77.

Trade Desk Stock Down 31.2 %

Shares of NASDAQ TTD traded down $38.15 during midday trading on Thursday, hitting $84.08. The stock had a trading volume of 24,521,936 shares, compared to its average volume of 4,747,246. Trade Desk has a 1-year low of $72.21 and a 1-year high of $141.53. The company has a market capitalization of $41.50 billion, a price-to-earnings ratio of 137.48, a PEG ratio of 3.63 and a beta of 1.45. The company has a fifty day moving average price of $123.20 and a 200 day moving average price of $115.54.

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

Trade Desk declared that its board has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was 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 in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TTD. Focus Financial Network Inc. boosted its stake in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the period. CAP Partners LLC lifted its position in shares of Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after buying an additional 86 shares during the last quarter. RMR Wealth Builders lifted its holdings in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after buying an additional 94 shares during the period. Finally, TFB Advisors LLC grew its stake in Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.