BMO Capital Markets Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target cut by investment analysts at BMO Capital Markets from $160.00 to $115.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 41.83% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday. UBS Group increased their target price on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada lowered their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, JMP Securities decreased their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $123.93.

Trade Desk Stock Down 33.7 %

NASDAQ TTD traded down $41.15 during trading hours on Thursday, reaching $81.08. The company’s stock had a trading volume of 34,367,007 shares, compared to its average volume of 5,086,730. Trade Desk has a 1 year low of $72.21 and a 1 year high of $141.53. The firm’s 50-day moving average price is $123.20 and its 200-day moving average price is $115.54. The company has a market capitalization of $40.02 billion, a price-to-earnings ratio of 132.92, a PEG ratio of 3.63 and a beta of 1.45.

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

Trade Desk announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % 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 valued at $5,004,296 over the last ninety days. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at about $34,000. Zions Bancorporation N.A. raised its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Trade Desk during the fourth quarter worth approximately $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.