Trade Desk (NASDAQ:TTD) Price Target Cut to $64.00 by Analysts at Rosenblatt Securities

Trade Desk (NASDAQ:TTD) had its target price lowered by equities research analysts at Rosenblatt Securities from $78.00 to $64.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price points to a potential upside of 47.84% from the company’s previous close.

TTD has been the subject of several other research reports. Wedbush raised Trade Desk to a “hold” rating in a research report on Tuesday. Guggenheim set a $55.00 price target on Trade Desk and gave the company a “buy” rating in a research note on Monday, September 29th. BTIG Research cut Trade Desk from a “buy” rating to a “neutral” rating in a report on Friday, August 8th. Arete Research raised Trade Desk to a “strong sell” rating in a report on Monday, July 28th. Finally, Zacks Research cut Trade Desk from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.06.

Trade Desk Stock Down 5.7%

Shares of TTD traded down $2.61 during mid-day trading on Friday, hitting $43.29. 5,572,138 shares of the company’s stock were exchanged, compared to its average volume of 11,983,823. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 52.52, a P/E/G ratio of 2.55 and a beta of 1.43. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a fifty day moving average of $50.03 and a two-hundred day moving average of $62.66.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%.The company had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Trade Desk has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a share buyback program on Thursday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,403 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $48.20, for a total value of $67,624.60. Following the transaction, the director directly owned 5,035 shares of the company’s stock, valued at approximately $242,687. This trade represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Geode Capital Management LLC boosted its holdings in Trade Desk by 52.1% during the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock worth $884,860,000 after purchasing an additional 4,218,975 shares during the last quarter. Nuveen LLC bought a new position in shares of Trade Desk in the 1st quarter valued at about $191,935,000. Norges Bank acquired a new position in Trade Desk during the second quarter valued at approximately $197,362,000. Viking Global Investors LP bought a new position in Trade Desk in the second quarter valued at approximately $192,524,000. Finally, Jennison Associates LLC grew its stake in Trade Desk by 17.9% in the second quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock valued at $1,027,114,000 after purchasing an additional 2,169,252 shares in the last quarter. 67.77% of the stock is 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.