Royal Bank of Canada Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target lowered by Royal Bank of Canada from $120.00 to $100.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 86.60% from the stock’s current price.

A number of other analysts have also recently commented on the company. Wells Fargo & Company cut their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Scotiabank dropped their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Susquehanna dropped their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. JMP Securities dropped their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Performance

TTD opened at $53.59 on Monday. The business’s 50-day simple moving average is $95.03 and its 200-day simple moving average is $110.89. Trade Desk has a one year low of $53.39 and a one year high of $141.53. The stock has a market capitalization of $26.59 billion, a P/E ratio of 68.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

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 16.38% and a net margin of 16.08%. On average, equities research analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

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

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’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 sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several large investors have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the 4th quarter valued at $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its position in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Trade Desk in the 4th quarter valued at about $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter valued at about $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.