JMP Securities Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective dropped by stock analysts at JMP Securities from $115.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price points to a potential upside of 40.77% from the stock’s previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets reduced their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their price objective on Trade Desk from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Wedbush restated an “outperform” rating and issued a $86.00 target price (up from $80.00) on shares of Trade Desk in a research note on Friday. Jefferies Financial Group set a $125.00 price target on shares of Trade Desk and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, DA Davidson lowered their price objective on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.88.

Trade Desk Price Performance

Trade Desk stock opened at $71.04 on Friday. The business has a 50 day simple moving average of $54.62 and a 200 day simple moving average of $95.16. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The company has a market capitalization of $35.24 billion, a PE ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Trade Desk

Several large investors have recently made changes to their positions in the stock. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter worth $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its holdings in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. 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.