Morgan Stanley Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price decreased by equities research analysts at Morgan Stanley from $145.00 to $132.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 7.99% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wedbush increased their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Macquarie increased their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, UBS Group boosted their target price on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.10.

Trade Desk Trading Up 1.7 %

Trade Desk stock opened at $122.23 on Thursday. The stock has a 50 day moving average of $123.20 and a two-hundred day moving average of $115.54. Trade Desk has a twelve month low of $71.11 and a twelve month high of $141.53. The stock has a market capitalization of $60.33 billion, a price-to-earnings ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Equities analysts predict that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in Trade Desk during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth $34,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. boosted its holdings in Trade Desk by 148.3% in the fourth 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 during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.