Trade Desk (NASDAQ:TTD) Downgraded by Wall Street Zen to Sell

Trade Desk (NASDAQ:TTD) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on TTD. Bank of America restated an “underperform” rating and set a $55.00 target price (down previously from $130.00) on shares of Trade Desk in a report on Friday, August 8th. Guggenheim decreased their price objective on Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a report on Friday, May 9th. Rosenblatt Securities reiterated a “buy” rating on shares of Trade Desk in a report on Friday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of Trade Desk in a report on Monday, August 11th. Finally, DA Davidson decreased their price objective on Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Trade Desk has a consensus rating of “Hold” and a consensus price target of $88.58.

Trade Desk Stock Performance

NASDAQ:TTD opened at $52.12 on Friday. The firm has a market cap of $25.61 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 2.60 and a beta of 1.37. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The business has a 50 day moving average price of $74.22 and a 200-day moving average price of $71.04.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.24). The business had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. Trade Desk’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Research analysts predict that Trade Desk will post 1.06 EPS for the current year.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the transaction, the insider directly owned 218,246 shares of the company’s stock, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in shares of Trade Desk in the fourth quarter worth about $25,000. Banque Cantonale Vaudoise bought a new position in shares of Trade Desk in the first quarter worth about $26,000. Sound Income Strategies LLC raised its stake in shares of Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after buying an additional 270 shares during the period. Cloud Capital Management LLC bought a new position in shares of Trade Desk in the first quarter worth about $27,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Trade Desk in the second quarter worth about $28,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.