The Trade Desk (NASDAQ:TTD) Stock Has Consensus Target Price of $18.19

Shares of The Trade Desk (NASDAQ:TTD) have been given a consensus rating of “Reduce” by the thirty-nine brokerages that are covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a sell recommendation, twenty-five have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.19.

TTD has been the topic of several research reports. Cannonball Research cut shares of Trade Desk from a “strong-buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Friday, August 7th. UBS Group set a $16.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research report on Friday, August 7th. HSBC cut shares of Trade Desk from a “hold” rating to a “reduce” rating and set a $10.00 price objective on the stock. in a research note on Monday, August 10th. Cantor Fitzgerald cut their target price on shares of Trade Desk from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, Needham & Company LLC reduced their target price on shares of Trade Desk from $25.00 to $19.00 and set a “buy” rating for the company in a report on Friday, August 7th.

Trade Desk Stock Performance

Shares of TTD stock opened at $12.08 on Friday. Trade Desk has a 1 year low of $11.62 and a 1 year high of $55.11. The business’s fifty day moving average is $13.83 and its 200-day moving average is $18.25. The stock has a market cap of $5.68 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.38 and a beta of 1.00.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. During the same quarter last year, the company earned $0.41 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Trade Desk will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased its stake in Trade Desk by 148.0% in the 2nd quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock worth $2,208,000 after purchasing an additional 72,888 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in Trade Desk during the second quarter valued at about $326,000. Integrated Wealth Concepts LLC lifted its stake in Trade Desk by 84.3% during the second quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company’s stock valued at $296,000 after buying an additional 7,480 shares in the last quarter. RFG Advisory LLC boosted its holdings in shares of Trade Desk by 37.9% in the second quarter. RFG Advisory LLC now owns 115,773 shares of the technology company’s stock worth $2,093,000 after buying an additional 31,821 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Trade Desk by 91.4% in the second quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company’s stock worth $1,306,000 after buying an additional 34,484 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.