UBS Group Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective cut by analysts at UBS Group from $105.00 to $80.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. UBS Group’s price target indicates a potential upside of 53.49% from the stock’s current price.

TTD has been the subject of several other reports. DA Davidson decreased their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 9th. KeyCorp lifted their price target on shares of Trade Desk from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Citigroup reaffirmed a “neutral” rating and issued a $65.00 price target (down from $90.00) on shares of Trade Desk in a research note on Friday, August 8th. Jefferies Financial Group downgraded shares of Trade Desk from a “buy” rating to a “hold” rating and decreased their price target for the company from $100.00 to $50.00 in a research note on Monday, August 11th. Finally, Oppenheimer lifted their price target on shares of Trade Desk from $80.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Hold” and an average target price of $88.58.

Trade Desk Stock Up 2.7%

Shares of NASDAQ TTD opened at $52.12 on Friday. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a fifty day simple moving average of $74.22 and a 200 day simple moving average of $70.68. The company has a market capitalization of $25.61 billion, a PE ratio of 62.80, a P/E/G ratio of 2.67 and a beta of 1.37.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The company had revenue of $694.04 million during the quarter, compared to the consensus estimate of $686.00 million. During the same period last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Trade Desk

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Trade Desk by 3,876.8% in the first quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company’s stock valued at $5,033,000 after purchasing an additional 89,671 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of Trade Desk in the first quarter valued at approximately $995,000. LBP AM SA raised its position in shares of Trade Desk by 116.1% in the first quarter. LBP AM SA now owns 64,154 shares of the technology company’s stock valued at $3,511,000 after purchasing an additional 34,465 shares during the period. Bryce Point Capital LLC raised its position in shares of Trade Desk by 302.9% in the first quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company’s stock valued at $915,000 after purchasing an additional 12,575 shares during the period. Finally, Peregrine Capital Management LLC raised its position in shares of Trade Desk by 40.2% in the first quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company’s stock valued at $31,731,000 after purchasing an additional 166,332 shares during the period. 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.