DA Davidson Lowers Trade Desk (NASDAQ:TTD) Price Target to $103.00

Trade Desk (NASDAQ:TTD) had its price objective decreased by equities research analysts at DA Davidson from $134.00 to $103.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential downside of 15.73% from the company’s previous close.

Several other equities analysts also recently commented on the company. Loop Capital increased their target price on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $135.00 to $90.00 in a report on Thursday. BMO Capital Markets boosted their target price on shares of Trade Desk from $125.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Benchmark reaffirmed a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research note on Friday, November 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $130.57.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $122.23 on Thursday. Trade Desk has a 52 week low of $71.11 and a 52 week high of $141.53. The stock’s fifty day moving average is $123.20 and its 200 day moving average is $115.54. The stock has a market capitalization of $60.33 billion, a P/E ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45.

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

Trade Desk announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. 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. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its stake in 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 purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. boosted its position 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 buying an additional 175 shares during the last quarter. Hedge funds and other 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.