Trade Desk (NASDAQ:TTD) Coverage Initiated at Rosenblatt Securities

Investment analysts at Rosenblatt Securities assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $77.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 41.54% from the company’s current price.

Several other brokerages also recently commented on TTD. DA Davidson dropped their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Susquehanna reduced their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Morgan Stanley cut their price objective on Trade Desk from $132.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. JMP Securities lowered their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Finally, KeyCorp reduced their price objective on shares of Trade Desk from $74.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.71.

Trade Desk Stock Performance

TTD stock opened at $54.40 on Tuesday. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm has a market capitalization of $26.99 billion, a price-to-earnings ratio of 69.74, a PEG ratio of 3.11 and a beta of 1.56. The company’s 50 day moving average price is $57.26 and its 200 day moving average price is $98.83.

Trade Desk (NASDAQ:TTD) last issued its quarterly 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 return on equity of 16.38% and a net margin of 16.08%. Equities analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the 4th quarter worth $25,000. Rialto Wealth Management LLC bought a new stake in Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new stake in Trade Desk during the fourth quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the 4th quarter valued at $34,000. Hedge funds and other institutional investors 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.