BMO Capital Markets Cuts Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its price objective decreased by BMO Capital Markets from $160.00 to $115.00 in a research note released on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on TTD. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday. Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wedbush lifted their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Oppenheimer dropped their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $119.77.

Trade Desk Price Performance

NASDAQ TTD opened at $80.16 on Thursday. The stock has a market capitalization of $39.56 billion, a PE ratio of 131.41, a P/E/G ratio of 3.63 and a beta of 1.45. The business has a 50 day simple moving average of $120.93 and a two-hundred day simple moving average of $115.40. Trade Desk has a 1-year low of $73.68 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released 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 net margin of 13.34% and a return on equity of 13.17%. On average, analysts anticipate that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The stock was 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 directly owns 169,464 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Meiji Yasuda Life Insurance Co bought a new position in shares of Trade Desk in the 4th quarter worth $670,000. Blue Rock Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter worth $705,000. Mercer Global Advisors Inc. ADV grew its stake in Trade Desk by 20.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 65,937 shares of the technology company’s stock worth $7,750,000 after buying an additional 11,037 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in Trade Desk by 1,016.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 793 shares of the technology company’s stock worth $93,000 after buying an additional 722 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Trade Desk by 90.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 178,209 shares of the technology company’s stock worth $20,945,000 after buying an additional 84,767 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.