Trade Desk (NASDAQ:TTD) Lowered to “Sell” Rating by New Street Research

Trade Desk (NASDAQ:TTD) was downgraded by stock analysts at New Street Research from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $86.00 price objective on the technology company’s stock. New Street Research’s target price would indicate a potential downside of 29.50% from the stock’s previous close.

Several other research firms have also commented on TTD. Loop Capital raised their price target on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Susquehanna lifted their target price on Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Citigroup boosted their price target on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC raised their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Moffett Nathanson began coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $115.60.

Trade Desk Price Performance

NASDAQ TTD opened at $121.98 on Tuesday. The stock has a market capitalization of $59.66 billion, a P/E ratio of 304.95, a PEG ratio of 5.75 and a beta of 1.48. The firm’s 50-day moving average is $109.80 and its two-hundred day moving average is $98.89. Trade Desk has a 12 month low of $60.23 and a 12 month high of $123.85.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. As a group, analysts anticipate that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $80,102,994.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in Trade Desk during the 2nd quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new position in shares of Trade Desk in the second quarter valued at approximately $37,000. Quarry LP purchased a new stake in shares of Trade Desk during the second quarter worth approximately $41,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds 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.