Trade Desk (NASDAQ:TTD) Price Target Raised to $100.00

Trade Desk (NASDAQ:TTD) had its target price lifted by Truist Financial from $95.00 to $100.00 in a report released on Friday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. KeyCorp raised their price objective on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. HSBC set a $75.00 price target on Trade Desk and gave the company a “buy” rating in a report on Wednesday, April 23rd. Oppenheimer reduced their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Trading Up 18.6%

Shares of NASDAQ TTD opened at $71.04 on Friday. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The firm has a market capitalization of $35.24 billion, a PE ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. The business has a 50-day moving average price of $54.62 and a two-hundred day moving average price of $94.99.

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

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TTD. Brown Advisory Inc. grew its holdings in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock worth $443,358,000 after purchasing an additional 5,387,339 shares in the last quarter. Norges Bank acquired a new position in Trade Desk in the fourth quarter worth $524,187,000. Raymond James Financial Inc. acquired a new position in Trade Desk in the fourth quarter worth $231,570,000. Vanguard Group Inc. boosted its stake in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Trade Desk by 265.9% in the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after purchasing an additional 1,354,891 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.